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In this video tutorial, the presenter demonstrates how to void a contract and modify a voicemail template. They begin by creating a simple demo agreement, inserting necessary fields, and opting for text fields instead of text areas for clarity. The process includes copying and pasting details and tagging signature fields for easier identification. Tagging is recommended for all fields to enhance organization. Next, the tutorial will cover the setup of Salesforce integration, leading into a discussion about the void function under the context of contract management.