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If I were the affiliate, I'd let the sponsor know. Things like this always catch up sooner or later.
If I were the sponsor, I'd acknowledge the mistake and let the affiliate keep it.
In both situations, the other party will always remember the goodwill and honesty of the other. In a business filled with shady, unscrupulous people.. the ones who do the right thing will be remembered and benefit in the long run.
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