Newsletter Sponsorship Agreement and Insertion Order Template

Morning Brew's published insertion order terms make a presenting newsletter sponsorship non-cancelable. For its other custom placements, canceling within 9 days of the run date costs 100% of the fee¹. The industry's standard terms, the 4A's and IAB version 3.0, let an advertiser cancel a flat-fee buy with 30 days' written notice and no penalty². Two documents, two very different outcomes for the same canceled ad.

That gap is why a newsletter sponsorship needs a short written agreement. This page covers what to put in one, the insertion order fields that matter, disclosure and approval clauses, makegoods, payment and cancellation, and a copy-ready template you can paste into an email.

Facts and prices checked November 11, 2026. See something wrong? Tell us.

Key takeaways

• A newsletter insertion order should name the newsletter, issue date, placement, word and link limits, price, copy deadline, approval steps, sponsored label, report and cancellation terms.
• Morning Brew's IO terms charge 100% of the fee for custom placements canceled 0 to 9 days before exposure and 25% at 60 to 89 days.
• The 4A's and IAB Standard Terms 3.0 allow cancellation of flat-fee or fixed-placement buys with 30 days' written notice, without penalty.
• FTC staff say an advertiser is ultimately responsible for what others do on its behalf and needs reasonable programs to train and monitor endorsers, so the label belongs in the contract.
• Under IAB 3.0, makegoods are not available for CPC, CPL or CPA deliverables, so define how clicks are counted before you sign a per-click deal.

When you need a written newsletter sponsorship agreement

Not every newsletter ad needs a long contract. A $7 classified in a small newsletter can be booked by email. OpenLampTech, a 1,150-reader Substack, takes bookings that way³. But even then, put the key terms in writing. An email that both sides reply "agreed" to is a written record.

Use a proper insertion order, or IO, when any of these is true.

• You're spending more than you'd be happy to lose.
• You're booking more than one issue or more than one newsletter.
• You're paying per click or per open, not a flat fee.
• You need a specific date, like a launch or an event.
• The writer will write or rewrite your ad.
• You want category exclusivity, a rate lock or a report.

Large publishers send their own IO and terms. Morning Brew's terms, for example, say the agreement is the IO, its additional terms and the IAB/AAAA Standard Terms 3.0¹. The IAB terms were written for agency media buys, not small direct deals², but they're the base many publishers start from. Small writers usually have nothing. In that case, you send the IO. That's a good thing. Your terms become the starting point.

Before any of this, you need writers who say yes. Most brands contract with a handful of newsletters at a time, out of 20 or 30 they emailed. Finding those writers and their emails is the first step, and our newsletter sponsorship email template covers the ask.

Insertion order fields for a newsletter ad

An insertion order is a one or two page form that says exactly what you're buying. Here are the fields to include for a newsletter.

The examples in the middle column are ours, to show the format. Fill in what you agree with each writer. For how to price a deal, see CPM vs flat fee vs CPC.

Copy deadlines and approvals

Most fights over newsletter ads are about copy, not money. Set the steps and dates in the IO.

How a large publisher does it

Morning Brew's terms are a useful model¹.

• It aims to tell the advertiser the run date about 2 weeks ahead.
• Copy goes to the advertiser for approval about 2 weeks before it runs.
• The advertiser gets one revision after the first draft.
• Final approval is due at least 1 week before the run date.
• If approval is late, Morning Brew may treat the copy as approved, reuse earlier approved copy or skip the placement, without penalty.

What to write for a small newsletter

For a small writer, the steps can be simpler. You send copy and a tracked link by a set date. The writer can adjust the wording to fit their voice. You get to see the final version before it sends, and you approve or ask for one change within one business day.

Two more lines save trouble. Who owns the copy, and can you reuse it? And what happens if the writer changes a product claim? Morning Brew's terms make the advertiser responsible for the accuracy of its claims¹. That's normal. You know your product. So ask the writer not to add new product claims without your OK.

Performance terms, makegoods and click definitions

A makegood is how a publisher makes you whole when an ad doesn't run, runs wrong or under-delivers. Baker Law describes it as "the mechanism by which a media provider will make the advertiser whole"⁶.

What the standard terms say

Under the 4A's and IAB Standard Terms 3.0, if an ad is left out or delivery falls below guaranteed levels, both sides try to agree on a makegood flight. If they can't, the advertiser can take a credit for the under-delivered part, or a refund if it prepaid². But makegoods are not available for CPC, CPL or CPA deliverables². Pay per click, and you carry the risk of a slow send.

Morning Brew's terms go further toward the publisher. It may offer makegoods or bill only for what delivered, but has no obligation to. Unused credits expire after 12 months, and its own measurements control¹.

Write these into the IO

• What counts as delivered. Morning Brew counts newsletter impressions as total sends unless the IO says otherwise¹. If you care about opens, say so.
• What counts as a click. beehiiv's ad network counts unique clicks within 72 hours of the send and filters bots, duplicate clicks and readers who bounce right away⁷. Use a similar definition, unique human clicks on your link within a set window.
• Whose numbers win. Say which count is used if your analytics and the writer's report differ. Opens are shaky. Litmus reports over 50% of email opens happen on devices with Apple Mail Privacy Protection on, which inflates them⁸.
• The makegood. If the issue skips your ad or sends late, the writer reruns it in the next issue at no charge. If that's not possible, you get a refund.

Disclosure and labeling clause

The FTC holds advertisers responsible for what others say for them. Its staff guidance says "Your company is ultimately responsible for what others do on your behalf." It adds that advertisers need "reasonable programs in place to train and monitor members of their network"⁵. A disclosure clause in every agreement is the simplest program you can have.

What the clause should require

• A clear label. FTC staff say "Sponsored by XYZ" is clearer than "Sponsored" on its own⁵. Its native advertising guide lists "Ad," "Advertisement," "Paid Advertisement" and "Sponsored Advertising Content" as terms people understand⁹.
• The right spot. The FTC's native ad guide says the disclosure should go "immediately in front of or above" the ad's headline⁹.
• No vague words. The same guide warns against terms like "Promoted"⁹.
• Every copy. Keep the label when the issue is posted on the web or shared⁹.
• Honest claims. The writer won't say they use or love the product unless it's true.

Small writers already do this. OpenLampTech's rate card says all paid and sponsored content will be marked as such³. Morning Brew's terms require both sides to make sure paid content is set apart from editorial and follows FTC rules for native advertising¹. Copy that line into your agreement.

Approval rights and editorial independence

Writers protect their voice and their readers. Your agreement should respect that, or good writers will say no.

When Substack launched its sponsorship program in June 2026, its CEO wrote that creators "keep full editorial independence"¹⁰. Snopes writes it into its deals. Its brief says sponsorships cannot influence its fact-checking, and every send needs approval from its owner¹¹. Morning Brew's terms give the advertiser one set of comments on custom materials and no approval rights over topics or other content in the issue¹.

A fair split

• You control your ad's facts, offer, link, logo and claims.
• The writer controls the tone of the ad, where it fits in the issue, and everything else in the newsletter.
• Both sign off on the final ad before it sends.
• Either side can walk if they can't agree on the copy, with a full refund if it hasn't run.

Also add a line on adjacency. If your brand can't run next to certain topics, list them. And add a line on your review duty. FTC staff suggest that if you pre-approve paid posts, you should review them for truthful claims⁵.

Exclusivity and placement terms

Category exclusivity means no competitor runs in the same issue. It isn't automatic.

Morning Brew's terms give category exclusivity on the advertiser's run day for newsletter custom materials, but if the IO sets no exclusivity, the IO is non-exclusive¹. So if you want it, write it in. Name the competitor category, for example "no other payroll software ads in the same issue."

Also cap the number of other sponsors. More ads in one issue split the reader's attention. TLDR caps each issue at 3 advertisers⁴. beehiiv's ad network allows up to one primary and two secondary ads per post⁷.

Exclusivity across a whole month costs more, and many small writers won't sell it. Ask for same-issue exclusivity first. It's cheaper and covers the main risk.

Payment terms and cancellations

Payment and cancellation terms vary a lot between publishers. Compare the real ones before you write yours.

What to ask a small writer for

• Split payment. Half on signing, half after the last issue sends. Or full payment after each issue for a first test.
• Short notice to cancel. 14 days' notice for a full refund of unrun issues is fair for both sides.
• A rate lock. Snopes locks the signed rate on multi-month deals¹¹. Ask for the same.
• A clear refund rule. If the writer cancels or misses a date with no rerun, you get the money back for that issue.

Newsletter sponsorship agreement template

Copy this into an email or a document, fill in the brackets and send it once the writer agrees on price. Both sides reply "agreed" or sign. It's built for small and mid-size newsletters. For podcast and YouTube versions, see our podcast sponsorship agreement template and YouTube sponsorship contract template.

Newsletter sponsorship insertion order

1. Parties. [Brand legal name], [contact, email] ("Sponsor") and [Writer or publisher name], [contact, email] ("Publisher").

2. Newsletter. [Newsletter Name], sent to the main list of about [X] subscribers.

3. Placement and dates. [Top sponsor slot] in [number] issues on [dates]. No more than [number] other sponsors per issue. No other [category] ads in the same issue.

4. Specs. Up to [words] words, [number] links and [logo or image]. Sponsor sends draft copy and tracked links by [date]. Publisher may adjust tone. Sponsor approves the final version within one business day.

5. Label. Each ad is labeled "Sponsored by [Brand]" above the ad, in the email and in any web version.

6. Claims. Sponsor is responsible for its product claims. Publisher adds no new product claims and says nothing about personal use unless true.

7. Price. $[amount] per issue, $[total] in total, [flat fee or per unique click].

8. Clicks. A click is a unique human click on Sponsor's link within [72 hours] of the send, excluding bots and duplicates.

9. Report. Within [5] business days of each issue, Publisher sends delivered count, unique opens and unique clicks on Sponsor's links.

10. Makegood. If an issue skips the ad, sends on the wrong date or breaks these specs, Publisher reruns it in the next issue. If that's not possible, Publisher refunds that issue.

11. Payment. [50%] on signing, the rest within [15] days of the last issue.

12. Cancellation. Either side may cancel unrun issues with [14] days' written notice, with a full refund of unrun issues. After that, [50%] of the affected issue is due.

13. Rate lock. The price above holds for bookings made within [3] months of signing.

14. Signatures. [Name, title, date] for Sponsor and Publisher.

Keep it to one page. Long contracts scare off small writers, and the terms above cover the problems that actually happen.

Find newsletters to sign with today

The agreement is the last step before the send. The first step is finding writers who fit and getting them to reply. Media List covers that part.

• Find newsletters that fit. Search 28,000+ newsletters you can email by category, country and language.
• See who to contact. Each newsletter lists the writer's contact email. Emails unlock from your plan's allowance, no bot checks.
• Save a shortlist. Keep the newsletters you're testing, and later the ones you rebook, in saved lists.
• Send from built-in campaigns on Professional. Email your rate request to the whole list from your own mailbox, then send the IO to the writers who say yes.

Media List doesn't broker deals, list newsletter rates or hold payments, and it has no subscriber filter for newsletters. You deal with each writer directly.

Basic at $99 a month covers search, saved lists and a monthly unlock allowance. Built-in email campaigns come with Professional at $399 a month. Start a 3-day trial, $0 today, and cancel anytime. Compare plans on the pricing page.

Questions, answered

What should a newsletter sponsorship agreement include?

The parties, newsletter and list, issue dates, placement, specs, sponsors per issue, price and pricing model, copy deadline and approval, the sponsored label, how clicks are counted, the report, makegoods, payment and cancellation. One page is enough for most direct deals.

What is a newsletter insertion order?

An insertion order, or IO, is a short form that lists exactly what you're buying in a newsletter, when it runs and what it costs. Large publishers send their own IO with standard terms, and for small writers you can send yours.

What is a makegood in newsletter advertising?

A makegood is how the publisher makes up for an ad that didn't run, ran wrong or under-delivered, usually by rerunning it. Under the IAB 3.0 terms, if no makegood is agreed, the advertiser can take a credit, but makegoods don't apply to CPC, CPL or CPA deals.

Do newsletter ads need to be labeled as sponsored?

Yes. FTC guidance says ads should be clearly identifiable, with labels like "Ad" or "Sponsored by [Brand]" placed in front of or above the ad. FTC staff also say the advertiser is ultimately responsible for what others do on its behalf.

Can I cancel a newsletter sponsorship?

It depends on the terms you sign. The IAB 3.0 terms allow canceling flat-fee buys with 30 days' notice without penalty, while Morning Brew's terms charge 100% of the fee within 9 days of the run date for custom placements. Agree on notice and refunds before you pay.

When is a newsletter sponsorship paid?

Terms vary. IAB 3.0 sets payment 30 days from invoice, and Morning Brew invoices on the go-live date with payment due in 15 days. With small writers, splitting payment between signing and after the last issue is common and fair.

Should I get approval rights over the newsletter ad?

Ask to approve the final version of your own ad, not the writer's other content. Writers keep editorial control of their newsletter, and Morning Brew's terms, for example, give advertisers one round of comments and no say over topics.

Related guides

• Newsletter Advertising Guide for Brands Buying Direct in 2026
• Newsletter Advertising Rates and CPM Benchmarks for 2026
• How Much Does It Cost to Advertise in a Newsletter
• How to Find Newsletters to Sponsor in Your Niche
• Newsletter Directory and Contact List for Advertisers

Sources

1. Morning Brew, Additional terms and conditions for insertion orders, checked 2026-11-11
2. 4A's and IAB, Standard Terms and Conditions for Internet Advertising, Version 3.0, checked 2026-11-11
3. OpenLampTech, Newsletter sponsorship rate card, checked 2026-11-11
4. TLDR, Advertise with TLDR, checked 2026-11-11
5. FTC, Endorsement Guides, what people are asking, checked 2026-11-11
6. Baker Law, Revisiting makegoods in media buys (Aug 13, 2024), checked 2026-11-11
7. beehiiv, Ad Network overview and FAQ, checked 2026-11-11
8. Litmus, Apple Mail Privacy Protection resources, checked 2026-11-11
9. FTC, Native advertising, a guide for businesses (Dec 2015), checked 2026-11-11
10. Nieman Lab, Substack is launching a sponsorship program (June 16, 2026), checked 2026-11-11
11. Snopes, Partnership rate card brief, Q3 2026, checked 2026-11-11