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In this video, Scotty from Ogden Built discusses the basics of construction contracts, emphasizing their necessity for contractors in the construction industry. He shares his personal experience of being apprehensive about drafting contracts due to concerns over hidden costs and being trapped in unprofitable agreements. However, after creating a detailed contract for a builder who wanted clarity on costs, he found that specifying all details ensured satisfaction for both the owner and himself. The video aims to highlight why contracts are essential and outlines the basic steps and components that should be included to prevent misunderstandings and ensure fair compensation.
