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In this video tutorial, Drew Bowers Auger discusses essential consulting contracts for independent contractors. The focus is on the importance of a consulting agreement to prevent billing disputes and clarify engagement. Key elements to include are: the client's hiring of the business as an independent contractor, payment amounts and frequency, acceptable payment methods, and signatures from both parties. He provides sample consulting agreement templates and notes that contracts often favor the drafting party. Ideally, consultants should have clients sign their contract. If signing the client's contract, it's crucial to read it thoroughly and ensure understanding of terms related to rate, billing frequency, and project completion. Any disagreements or misunderstandings should be openly discussed with the client.