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In this video tutorial, the host discusses essential elements to include in a services business contract. They review a one-page contract used in their early days and highlight the basics needed for an effective contract. Additionally, they introduce tools for quickly obtaining legally binding signatures. The video promises a free contract template for viewers to utilize in signing clients and encourages engagement through likes, subscriptions, and comments. Links for accessing the free contract template and the signature tool, Signaturely, are provided in the description.