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Act Notes Tutorial, hosted by Bert, provides a quick overview of the Statement of Work (SOW). The SOW is a crucial document that outlines the requirements of the government or customer and the work to be done by a contractor. It helps in proposal preparation, aids in source selection, and guides contract administration. The SOW defines all performance requirements for the contractor, specifying the work clearly for both parties involved. Developing a SOW requires a deep understanding of the goods or services needed to meet specific requirements.