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In this video, we discuss the importance of using a consulting agreement to avoid disputes over billing and engagement. Key points to cover in the contract include hiring your business as an independent contractor, payment terms, acceptable payment methods, and signatures from both parties. Sample consulting agreement templates are provided, with a reminder that contracts are usually biased towards the party that drafted them. It is recommended to have clients sign your contract rather than signing theirs, but if necessary, read and discuss any disagreements or unclear terms with the client.