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In this video tutorial, the host discusses the necessity of having a contract as a freelance social media manager. They emphasize that having a contract is essential for outlining important details, such as pricing, start and end dates, and cancellation procedures. The host will also address who is responsible for creating the contract and whether tools are needed for sending and signing it. Additionally, a real-life example of a contract used with a client will be shared. The video encourages viewers to subscribe and engage with the content.