Yes I think if your living in the US it does. A lot of Cpa companies prohibit it for certain campaigns. However in Germany you are allowed to by law
Posted via Mobile Device
Do you direct the visitors directly to the offer, or do you lead them to your own website first?
If you send them from your own website, make sure you do not use the trademarks there. Your advertiser will look at the referrer and check it out. If it's just a PPC, for example adwords, I highly doubt they will be able to check it (they will just get as referrer Google)