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In this video, Scotty from Ogden Built discusses the fundamentals of construction contracts for contractors in the industry. He emphasizes the importance of having agreements in place to avoid misunderstandings and unexpected costs at the end of a project. Scotty shares his personal experience of initially being hesitant to write contracts due to concerns about being locked into unprofitable agreements. However, after creating a detailed contract that encompassed every aspect of the project, both he and the owner were satisfied—ensuring all obligations were met and he was compensated appropriately for his work.
