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In this video tutorial, Drew Bowers Auger discusses the importance of consulting agreements for independent contractors. Key points include ensuring clarity on who is hiring whom, payment amounts and frequency, acceptable payment methods, and signatures from both parties. The video emphasizes using templates for consulting agreements, highlighting that contracts typically favor the party that created them. It advises consultants to have clients sign their contracts when possible and to carefully review any client contracts they must sign, ensuring terms like billing rates and project completion are clearly understood. If there are disagreements or uncertainties, it's important to communicate with the client for clarification.