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In this video, the speaker discusses the importance of having a contract for design projects. They clarify that they are not a lawyer and are sharing personal experiences rather than legal advice. The speaker distinguishes two key written elements in design projects: the proposal and the contract (or terms and conditions). The proposal details the project goals, deliverables, timeline, phases of work, and fees. The speaker intends to cover more about proposals in future videos. Overall, the emphasis is on understanding the structure and necessity of contracts in design work.