Ad Money Finally. Now What?

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I have my first serious inquiry to buy ad space on my site. The site buying the ad space seems legitimante and so it's looking promising. Right now I'm making okay money from adsense, but this will give me a chance to branch out.

Anyway, I have a question for all you vets. This is for more than just Saturday Poker money and so I am wondering how you

1. Handle contracts or do you usually just keep it informal via email?

2. Handle payments, i.e. do you take a monthly payment? keep it weekly or even daily?

3. Have any terms or conditions that might be standard for this sort of thing?

I googled but didn't have much luck finding info on how this is usually done. You know how it is when you search on internet marketing topics, you get quite a bit of irrelevant and spammy results.

Any tips are much appreciated...
#finally #money

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