This custom pages entry is for your Terms and Conditions text for your website.
Payment processors require this page for compliance. This text can be edited in the custom pages plugin of your Elevated X CMS.
"Website terms and conditions may perform a number of different roles. They may be used to satisfy legal disclosure obligations, to grant users rights to use website materials, to impose acceptable use obligations, to limit (or attempt to limit) warranties and disclaim (or attempt to disclaim) liabilities, and more generally to structure the legal relationships between the website operator and users."
It is up to you to decide your website terms and conditions.