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In this video, Abdullah Hammond discusses managing contract expiry dates, highlighting its relevance for HR professionals and other applications. He explains that a typical contract includes a starting date, exemplified as April 8, 2020, and a duration, which he sets at 12 months. To calculate the ending date, he introduces the EDATE function, which requires the starting date and the number of months to add. Positive values move the date forward, while negative values move it backward. This illustrates a straightforward method for tracking contract timelines effectively.