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This video tutorial discusses the importance of service agreements for businesses. When landing a contract, it is common for the hiring company to request various documents such as insurance information, EIN number, and W9 form. It is crucial for new businesses to not overlook the importance of protecting themselves by having a service agreement in place. Service agreements outline the terms and conditions of the service provided, protecting both parties involved. It is essential for businesses to have a service agreement to avoid potential disputes and ensure both parties are clear on expectations.