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In the video tutorial, the speaker discusses software development agreements, highlighting their importance in contracts between developers and clients for building software. There are two main types of agreements: agile and waterfall. Both require precise drafting of clauses to avoid misunderstandings about the development process, specifications, timelines, and requirements. Common clauses typically included in these agreements address client requirements, project scope, milestones, and deliverables, ensuring clarity and alignment between the parties involved. The speaker also notes potential pitfalls to be aware of when entering into software development agreements.