First Paid Project

I got an email yesterday morning, someone had filled out and submitted (for the first time ever) my request form on my website asking if I would be interested in a paid project designing a 1 minute trailer for an MMA event in Antwerp Belgium.

Needless to say that I am ecstatic to finally be involved in my first paid project.  So far, it is going very well, he was very satisfied with the first preview video I sent him last night and there are only a few changes that I need to make for the next preview.

My first concern with the project was being able to provide test and preview videos, but protect them so that he couldn't just take them and run.  I ended up creating a watermark over the video so that he couldn't use it somewhere else without copyright liability.

As I get closer to finishing the project I am wondering how to go about payment and providing the final product.  I do have a PayPal account, so he should be able to provide payment easily there, the problem is when do I provide the final product, before or after payment?  Maybe half before, half after?  I am a little worried about this, I'm sure he won't feel comfortable paying before receiving, and I won't feel comfortable providing the product before payment.

It's quite a conundrum!