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In this tutorial with Ivan from SimpleSheets, viewers are introduced to a contract management template among their extensive collection of over 100 pre-built templates. The video encourages viewers to try five free templates before purchasing. The introduction sheet outlines the template's key features, definitions, customization difficulty, and instructions for use. Additionally, it provides guidance on utilizing the templates with compatible online services. The main function of the template is to serve as a central dashboard for tracking various contracts with customers, vendors, partners, or employees, starting from the contract database sheet.