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In this video tutorial, the presenter explains how to edit a contract template on Remote Pass. To start, open a pending contract and click the "edit template" button, which opens the smart editor. Users can customize the template by adding or editing sections through the blue text areas. Placeholders are available for dynamic content, and can be searched using the "add" sign. Sections can also be deleted or reordered. After editing, click "save changes," name the template, and save it. The changes will automatically apply to the contract, and users can preview or download the updated PDF. The new template is saved for future use.