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In this video tutorial, Drew Bowers Auger discusses the essential contracts for consultants, focusing on the consulting agreement. He emphasizes the importance of having a written contract to avoid disputes regarding billing and engagement. Key points to cover include indicating that the client hires you as an independent contractor, specifying payment amounts and frequency, determining acceptable payment methods, and ensuring signatures from both parties. Auger provides sample consulting agreement templates and notes that contracts often favor the party that drafted them. He advises consultants to have clients sign their contracts whenever possible and to carefully review any client-provided contracts to clarify rates, billing frequency, and project completion details. Any disagreements or uncertainties should be discussed with the client.