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In this video tutorial, the presenter discusses the importance of having a contract as a freelance social media manager. They emphasize that a contract is essential for outlining the package pricing, start and end dates of work, and cancellation terms. The presenter will also provide a real-life example of a contract they have used. Additionally, they address questions about who sets the contract, whether tools are needed for sending or signing it, and encourage viewers to subscribe and engage with the content. Overall, the takeaway is that a contract is a crucial component of freelance social media management.