A shoot nobody pays money for: the photographer works for free and hands over frames, the model allows them to be used in his portfolio.
How it is meant to work
The settlement is in frames, so frames are what you negotiate: what each side takes away, how many images and in what edit, where they may be published and from what date. Without that conversation TFP turns into an exchange of favours in which both sides end up unhappy.
Studio, makeup artist and stylist costs are split in advance and out loud. “We’ll sort it out” here means whoever gets their card out first pays.
Who gains
Both, differently. A beginning model gets frames she does not have; the photographer gets material and a chance to try something. The trouble starts when one of the two believes they are doing the other a favour.
When not to agree
If you have not seen the photographer’s work, or have only seen other people’s. If the shoot involves lingerie or nudity — in that genre agreements are written, whatever the form of payment. If you are being rushed for an answer.
And if you are already being paid for similar work: TFP makes sense while the book is empty, and after that it takes time away from paid jobs.
What to write down
Number of frames, deadline, level of edit, where they may be posted, and who gets credited. It is an email exchange, not a contract, and that is enough.
The full breakdown with a ready list of questions — «TFP Done Right: The Complete Guide to Trade Shoots».