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Julian Lalo, a Melbourne-based fashion and food photographer, discusses the importance of contracts for freelance photographers in his YouTube video. He shares his personal contract example, which he has created himself over the years based on his experiences. Lalo emphasizes the importance of including key points for clients to know before a shoot and keeping the document concise to ensure it is read. While his contract is not legally binding, it serves as a helpful tool for setting expectations and clarifying terms with clients.