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In this video, Scotty from Ogden Built discusses the basics of construction contracts, emphasizing their necessity for contractors in the industry. He shares his personal experience of creating contracts after a builder expressed concern about unexpected additional costs at the job's end. He initially hesitated to draft an agreement, fearing it might limit his profitability. However, by meticulously outlining every detail and allowing for pricing in his contract, he ensured that both the owner was satisfied with the work delivered and he received proper compensation. The tutorial covers the importance of contracts and the essential components to include to protect both parties involved.
