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In this video tutorial, Rainey from Oso Simply explains the essentials of a nanny contract. A nanny contract is a written document outlining the terms of agreement between a nanny and the family, capturing negotiations made during interviews or discussions. The contract serves to clarify expectations and prevent miscommunications in the future, which are common in such relationships. The video is structured with timestamps for easy navigation, addressing what a nanny contract is, its necessity, and guidance on how to write and present it effectively.