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In this video tutorial, Elena from Team Rahul Dave explores the critical role of software development contracts in ensuring the successful execution of software projects. She explains that a software development contract is an agreement between a company and a developer, outlining the company’s requirements and the developer’s commitment to deliver the software within a specified timeframe. This contract acts as the rulebook for the project. Elena emphasizes the significance of these contracts by hinting at a real-life case where a lack of a clear contract resulted in significant misunderstandings, illustrating that effective communication and documentation are essential for project success.