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In this video tutorial, the host emphasizes the importance of having a thorough and legitimate contract in the DJ industry. Contracts are essential for protecting both the DJ and the client, and should be robust and comprehensive. The host highlights the necessity of having a contract in place for every gig, regardless if it is a corporate event or a personal party. It is critical for DJs to ensure that they have a well-drafted contract that covers all aspects of the job to avoid any potential legal or financial issues.