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This video discusses the importance of having service agreements when operating a business. When landing a contract, the hiring company will typically send paperwork, including vendor agreements and insurance requirements. As a newbie, it's easy to overlook the need for protection and focus solely on starting work. However, it is crucial to have a service agreement in place to protect yourself and clearly outline expectations. Giving a service agreement ensures that both parties are on the same page and sets boundaries for the working relationship.