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In this video, Matthew demonstrates how to create a painting contract using Legal Templates. He provides a link to the site, directing viewers to the "Business Forms" section. After selecting "View All Business Forms," he suggests using the search engine to find "painting contract." Once there, users can click on "Create Document." Matthew explains the transaction type as a service. He emphasizes inputting personal information as the service provider and customer details for the person purchasing the service. The video outlines the description of the service, specifying it as a painting contract for a house or room, and addresses pricing based on the number and type of projects.