Ask if the project has a budget, and if so, which amount. In addition to experience gained, and another project added to your portfolio, every work should receive adequate financial compensation.
Assess the power dynamic in the conversation. Pay attention to verbal formulations. Who is leading the conversation? What are their expectations? Is there enough room for discussion? Collaborative partnerships should be equal, not hierarchal.
If you belong to a vulnerable group, check on social media to check if your potential collaboration partner is sensitized. It’s possible to see if they use practices of virtue signalling on their social media. If so, this can be a red flag that you are going to be instrumentalised and tokenised.
Mind how are you going to be represented in the project. Discuss how and where you will be mentioned in the project, and in what role.