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In this video tutorial, Drew Bowers Auger outlines essential contracts for consulting. He emphasizes the importance of a consulting agreement to prevent disputes regarding billing and engagement. Key points to include in the contract are: the client hiring you as an independent contractor, payment amount and frequency, acceptable payment methods, and signatures from both parties. Auger provides sample consulting agreement templates and advises that contracts are often biased towards the party that created them. He recommends having clients sign your contract and, if required to sign theirs, to read it carefully to ensure clarity on rates, billing frequency, and project completion. Any disagreements or misunderstandings should be addressed with the client.