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In this video tutorial, the speaker discusses the necessity of a contract for freelance social media managers. It is emphasized that having a contract is essential, detailing key elements such as pricing, start and end dates, and cancellation terms. The speaker plans to provide a real-life example of a successful contract used over several years. Additionally, the video will cover who sets the contract, whether a tool is needed for sending or signing the contract, and the importance of clarity in agreements. Viewers are encouraged to subscribe for more valuable content on social media management contracts.