No, this is mostly a scope of work document and I would highly suggest you have a legally binding contract to go with it (I use Monster Contracts).
Yes, it is fully customizable — and there is purposefully no "design" to the documents whatsoever. I imagine most people will copy/paste this information into their proposal software. Of course, you could fancy this Google Doc up and use it if you wish.
I debated on whether or not to include my answers to the provided FAQ's in the example document because I'd really prefer you do not use my exact content for those. However, I know seeing examples can be helpful in getting your "creative juices" flowing, so I decided to include them. Please only use them for inspiration and write your own. You'll be better for it — and besides, I've already indexed all the copy ;-)