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In this video tutorial by Drew Bowers Auger, the focus is on the importance of using a consulting agreement to avoid disputes regarding billing and engagement. Key aspects to cover in the consulting contract include: the nature of the client hiring your business as an independent contractor, payment amounts, payment frequency, and acceptable payment methods, along with signatures from both parties. Sample consulting agreement templates are provided, highlighting that contracts can favor the party that drafted them. It is recommended to have clients sign your contract. If you must sign their contract, carefully review it to ensure clarity on rate, billing frequency, and project completion. Any disagreements should be discussed with the client.