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Many freelancers often wonder about the essentials of a contract, focusing on legal language and payment terms. In this video, the presenter shares a client contract template created by a lawyer, which originally cost around $1,000 but is offered for free. The goal is to provide an updated version based on lessons learned over the years. This template is versatile and applicable for various service offerings, including Facebook ads management, marketing, website, and mobile development, specifically for B2B transactions. Viewers are encouraged to check the description for a link to download the template.