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In this video, the presenter discusses their exact sales and service agreement used to finalize business deals. They explain the significance of each line in the contract and its role in the sales process, occurring after the client has reviewed pricing, proposals, and references. The sales and service agreement must be signed to officially close the deal. The presenter also notes that the contract was developed at a cost of approximately $1,000 by hiring a lawyer, and they offer viewers an editable version of the contract at the end of the video, emphasizing its value.