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In this video, Abdullah Hammond explains how to manage contract expiry dates, which is particularly useful for those in HR and other fields. He illustrates the process using an example where a contract starts on April 8, 2020, with a duration of 12 months. To calculate the contract's end date, he introduces the "EDate" function, which requires the starting date and the number of months (positive for future dates, negative for past dates). This method helps in determining when contracts expire, ensuring timely management of contractual obligations.