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In this video tutorial, Drew Bowers Auger discusses essential consulting contracts for consultants. He emphasizes the importance of signing a consulting agreement to prevent disputes regarding billing and engagement. Key points to include in the contract are: defining the client’s engagement of the consultant as an independent contractor, specifying payment amounts and frequency, outlining acceptable payment methods, and obtaining signatures from both parties. Bowers suggests using sample consulting agreement templates and advises that contracts are often biased towards the creator. He recommends having clients sign your contract and stresses the importance of reading and understanding any client-provided contracts, particularly concerning payment rates, billing frequency, and project completion. Modifications should be discussed if there are any concerns.