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In this video tutorial, Laura from Nanny Parent Connection discusses the importance of having a nanny contract. She explains that a contract outlines the details of the working agreement, helping to prevent misunderstandings between the nanny and the family. It offers protections for both parties, ensuring that the family receives the desired care and the nanny is aware of their responsibilities. Additionally, she notes that the contract helps define the position's parameters. Laura acknowledges that some families may prefer to pay nannies under the table, which can lead to the absence of a contract, but emphasizes the benefits of having one in place.