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In this video tutorial, the presenter discusses essential elements that should be included in a service business contract. They review a one-page contract used in their early days, highlighting the basics necessary for a solid agreement and sharing tools for quickly obtaining legally binding signatures. The host offers a free contract template for viewers to utilize in signing clients, encouraging engagement through likes, subscriptions, and comments. Additionally, viewers can access Signaturely, a tool introduced in the video, through provided links. The emphasis is on the importance of contracts in the services industry and the facilitation of client acquisition.