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Scott from Ogden Built discusses the basics of construction contracts, emphasizing their importance for contractors. He explains that contracts and agreements are essential to avoid misunderstandings and unexpected costs at the end of a project. Scott shares his initial hesitation about writing contracts due to concerns over being constrained financially. However, after detailing every step and aspect of the project in writing, he found that both he and the owner were satisfied—the owner received transparency and assurance of the work promised, while Scott was compensated fairly for his labor.