Affiliate Agreements are legally binding contracts between two or more parties that provide guidelines and parameters for the relationship. They typically include rules around how the partners will cooperate in terms of marketing, advertising, and other promotional activities. With an Affiliate Agreement, both parties have a clear understanding of their obligations to each other as well as their rights to any resulting profits or losses. The agreement can also outline commission rates, payment policies, and dispute resolution methods in case of disagreement. Together, these components create a mutually beneficial relationship that ensures all parties involved have the information they need to be successful.