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In this YouTube video tutorial by Prince Rich from Rich Technology Group, he explains VoIP contract terms in detail. He mentions that many people are unsure about how to avoid contracts, make the right decisions, and understand what is expected of them. Prince Rich assures viewers that VoIP contract terms are not as complicated as they may seem. He encourages viewers to take notes as he covers various aspects of VoIP contracts. It is essential to stay informed and educated on the subject to avoid any misunderstandings or complications.