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In this video tutorial, the host discusses essential elements that should be included in a services business contract. They review a one-page contract used at the beginning of their business and outline the key components necessary for a solid agreement. The video also introduces tools for quickly obtaining legally binding signatures. The host offers a free contract template for viewers to use in their services business and encourages interaction by asking viewers to like, subscribe, and comment for more content. Additionally, a tool called Signaturely is mentioned for easier contract signing, with links provided for both the contract template and the tool.