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In this video, the speaker addresses freelancers' concerns about contract essentials, including legal language and payment terms. They introduce a client contract template created in collaboration with a lawyer, which initially cost about $1,000. This template, now available for free, has been updated based on learned experiences over the past few years. The contract is designed for various services catering to B2B clients, such as Facebook ads management, marketing, website development, and mobile development. Viewers can access the free contract template via the link provided in the video description. The speaker then proceeds to demonstrate the contract on-screen.