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In this video tutorial, the host discusses essential elements to include in a services business contract. They present a one-page contract used in the early stages of their business and highlight the basics necessary for an effective contract. Viewers are introduced to tools that facilitate the quick signing of legally binding contracts. The video promises a free contract template for viewers to utilize in their own services business and encourages audience engagement through likes, subscriptions, and comments. Additionally, the host mentions a tool called Signaturely that can be accessed via a provided link.