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In this video tutorial, Ivan from SimpleSheets demonstrates a step-by-step guide to using their contract management template, part of over a hundred pre-built options available. Viewers are encouraged to try five free templates before purchasing. The introduction sheet provides a brief overview of the template, key definitions, customization difficulty, and instructions on its use. It also includes a guide for utilizing these templates with compatible online services. The template features a central dashboard for tracking contracts with customers, vendors, partners, or employees, starting with the contract database sheet.