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In this tutorial, the focus is on creating a new contract using previously established contract templates in Oracle Fusion Cloud application version 21b. The lesson starts by revisiting the process of creating new contract templates and emphasizes that the next step is to utilize these templates for creating actual contracts. To do this, users need to access the task menu, navigate to "Manage Contract Templates," and select the desired template from the three that have been created. The presenter demonstrates how to pull a specific template and proceed with the contract creation process through the "Actions" menu.