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In this video, Julian Lalo, a Melbourne-based fashion and food photographer, discusses the importance of contracts for freelance photographers. He shares his personal contract, which he has created over the years based on his experiences. The contract is kept concise to one page with subheadings and dot points for easy readability. Although not legally binding, the document highlights important points for future clients to know before a shoot. Lalo emphasizes the importance of clients reading over the contract to understand key terms and conditions.