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In this video, Matthew walks viewers through creating an independent contractor agreement using legaltemplates.net. He starts by directing viewers to click on a link that leads to the site where they can access business forms. He selects the "service contracts" section and opts for the "independent contractor agreement." Matthew then chooses Texas as the state for the agreement. He explains that users need to input general information for both the client and the independent contractor, ensuring to specify the services being provided. He also discusses detailing compensation and how expenses will be reimbursed.