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In this video, Drew Bowers Auger discusses essential contracts for consulting, focusing on the consulting agreement. He highlights the importance of having a signed contract to prevent disputes over billing and engagement. Key points to include are: the client hiring your business as an independent contractor, payment amount, payment frequency, acceptable payment methods, and signatures from both parties. Sample consulting agreement templates are provided, with a note that contracts often favor the drafter. It’s advised to have clients sign your contract; however, if you must sign theirs, read it carefully to ensure clarity on rates, billing frequency, and project completion, and address any disagreements with the client.