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In this video tutorial by Drew Bowers Auger, the focus is on essential consulting contracts. He emphasizes the importance of a consulting agreement to prevent billing disputes and clarify the engagement terms. Key elements to include are the client's hiring of your business as an independent contractor, payment amount, payment frequency, acceptable methods, and signatures from both parties. He provides sample consulting agreement templates and notes that contracts often favor the party that created them. Ideally, consultants should have clients sign their contracts. If required to sign a client's contract, it is crucial to read it thoroughly and address any disagreements or misunderstandings regarding the rate, billing frequency, and project completion.
