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In this video tutorial, the process of removing a field from a contract template is demonstrated. It begins by accessing the template builder and selecting the contract template to edit. Users are guided to locate the desired field for removal and simply uncheck it. The system prompts for confirmation, and upon clicking "ok," the field is deleted, along with any pre-inserted data. Finally, viewers are reminded to save and update the template to complete the process. The video emphasizes the importance of being attentive to the data being removed.