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In this video, Ivan from SimpleSheets provides a step-by-step tutorial on their contract management template, one of over a hundred pre-built and smart templates available. Viewers are encouraged to try five free templates through a link in the description. The introduction sheet offers a brief overview of the template, key definitions, customization difficulty, and an explanation of the included sheets. Instructions for utilizing the template and a guide for compatibility with online services are also included. The template features a central dashboard for tracking various contracts with customers, vendors, partners, or employees, beginning with the contract database sheet.