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Creating an affiliate program agreement is essential for any affiliate program. It serves as a contract between a brand and its affiliates, detailing the rules and policies governing the program. This document, which can be referred to as an operating agreement, terms and conditions, or terms of service, outlines how the affiliate program operates. Broad policies include payment and promotional policies, while specific policies address issues like attribution and self-referred orders. It's crucial for affiliates to understand these guidelines as they establish the framework for their participation in the program.