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In this tutorial video by Ivan from SimpleSheets, viewers are guided through a step-by-step process for using the contract management template. The video highlights that this is one of over a hundred pre-built templates available, with a link for viewers to try five free templates before purchasing. The introduction sheet provides a brief overview of the template and definitions of key terms, along with customization difficulty, explanations of the included sheets, and usage instructions. It also offers a guide for using the templates with compatible online services. The template functions as a central dashboard for tracking various contracts with customers, vendors, partners, or employees, starting with the contract database sheet.