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In this video tutorial, Ivan from SimpleSheets introduces a contract management template, part of over a hundred pre-built templates available. Viewers can try five free templates before purchasing. The introduction sheet provides an overview of the template, key term definitions, customization difficulty, and a guide for utilizing the template. Additionally, it outlines how to use the templates with compatible online services. The contract management template offers a central dashboard for tracking various contracts with customers, vendors, partners, or employees. The tutorial commences with the contract database sheet.