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The video tutorial discusses the importance of understanding the subcontract agreement when dealing with subcontractors in a project. The agreement defines the relationship between the main contractor and the subcontractor, outlining 11 crucial headings. A subcontract agreement is a contract between the main contractor and subcontractor to execute part of the works. It is essential to know the difference between the main contractor and subcontractor. The video breaks down the key points of a subcontract agreement to help ensure successful project execution.