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This video discusses the importance of having a sales and service agreement in place to close deals with clients. The contract is a crucial step in the sales process, coming in after the proposal and references have been reviewed. The agreement is a legal document that clients must sign to officially close the deal. The YouTuber provides a detailed walkthrough of their own contract, which cost $1000 to create with the help of a lawyer. Stick around until the end of the video for a free editable version of the contract.