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In this video tutorial by Drew Bowers, the focus is on the essential contracts needed for consulting. He emphasizes the importance of having a consulting agreement to prevent disputes over billing and engagement. Key points to include in the contract are that the client hires your business as an independent contractor, payment details such as amount, frequency, and methods, as well as signatures from both parties. Bowers provides sample consulting agreement templates and notes that contracts tend to favor the party that wrote them. It's advised to have clients sign your contract and to read theirs carefully, ensuring clarity on rates, billing frequency, and project completion. If any terms are unclear or disagreeable, discuss them with the client.
