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In this tutorial, the importance of having a contract before engaging affiliates for your products or services is emphasized. A contract helps prevent legal issues and misunderstandings while solidifying the relationship and building trust, which is essential for successful partnerships. The video explains what an affiliate contract is, why it's necessary, and outlines eight key elements to include in the agreement to protect yourself and your business. Additionally, the presenter, Ami, who is a lawyer, offers a downloadable affiliate program template and provides guidance on using it to create your affiliate agreement in just 15 minutes.