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In this video tutorial, you learn how to manage contract templates. Click on the "Contract Templates" section to clone, edit, or delete existing templates. To create a new one, click the "New Contract Template" button and provide a title. Next, you will add the contents of the contract, including stipulations and language. You can paste your text directly here and incorporate variables for specific client details, such as the photographer's name and client name. The tutorial demonstrates how to use variables by inserting the current date into the agreement. This allows for personalized and accurate contracts tailored to individual clients.