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In this video tutorial by Ivan from Simplesheets, viewers learn about their contract management template, part of a collection of over a hundred pre-built templates. It begins with an introduction sheet that outlines the template's purpose, key terms, customization difficulty, and usage instructions, including how to use it with compatible online services. The template features a central dashboard for tracking various contracts with customers, vendors, partners, or employees, starting with the contract database sheet. Viewers are encouraged to like the video and subscribe to the channel, and they are offered the chance to try five free templates.