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In this video, Julian Lalo, a Melbourne-based fashion and food photographer, discusses the importance of contracts for freelance photographers. He introduces his personal contract, which he developed from his own experiences rather than having it legally drawn up. He emphasizes that he updates the document based on situations encountered with clients, ensuring that it addresses vital points for future clients prior to a shoot. To enhance readability, he keeps the contract concise, ideally one page, with subheadings and bullet points, hoping clients will take the time to read it thoroughly. He notes that the document is not legally binding but serves as an essential guideline.