When you start your own affiliate program, make sure your affiliate agreements are both detailed and legally sound. Hire an attorney familiar with the affiliate business so you are well protected.
The agreement should spell out:
• what commissions you will pay for what things (click, lead, or sale)
• what your minimum payout level is
• how often you pay
Remember that an affiliate agreement is legally binding. Depending on your specific industry, there may be certain rules and regulations of which you must be aware. You need to protect yourself and make sure your affiliates understand the exact rules when you start your own affiliate program.