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Having a contract is essential for creatives working with clients on projects, primarily for three reasons. First, it ensures timely payment by clearly outlining the payment amount, due date, and the services provided. This clarity prevents miscommunications about financial terms. Second, written agreements eliminate misunderstandings, as all details are confirmed in writing. Lastly, a solid contract may include clauses, such as withholding final assets until full payment is received, safeguarding the creative's work and ensuring they are compensated fairly. Overall, a well-structured contract protects both parties and fosters a professional relationship.