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The video tutorial discusses the importance of service agreements for new contractors. It explains that when starting a new contract, the hiring company will typically request various documents such as insurance information, EIN number, and W9 form. The speaker emphasizes the importance of protecting oneself by having a service agreement in place to outline the terms and conditions of the work. It is crucial not to overlook this step in the eagerness to start working and receiving payment. Service agreements help ensure clarity and protection for both parties involved.
