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In this video tutorial, Ivan from Simple Sheets introduces a contract management template designed to help users manage contracts with customers, vendors, partners, or employees. He highlights that this is part of a collection of over a hundred pre-built templates and encourages viewers to try five free templates. The introduction sheet provides an overview of the template, key term definitions, and customization difficulty. It also includes instructions for utilizing the template and a guide for using it with online services. The tutorial begins with the contract database sheet, which serves as a central dashboard for tracking contracts.