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Signing a new IT consulting agreement is exciting for IT businesses, bringing fresh challenges and revenue. However, it's crucial to include key terms and conditions to avoid potential pitfalls. Five important factors to consider are: 1. Limitation of Liability: Ensure you have adequate insurance for mistakes with the client's infrastructure and include a clause that limits your financial liability in case of legal action. This clause varies by location, so it's advisable to consult a legal expert for appropriate wording. By factoring in these elements, you can create a robust agreement that protects both you and your client.