Help on creating logo contest

I need a logo + header for my website created, so I was thinking I'd start a logo creating contest. But I need some guidance.

1.I'd like it for the final design I receive to be in AI format so I can make modifications later if necessary. For example, I'm not 100% sure about my current slogan text, and might want to change it later. With most of the designs that people would submit would this be a reasonable request---that they provide it in AI and that the text be modifiable by me later? Or are most designs that are submitted pretty fixed usually, and so that's an unreasonable request, or one that would eliminate a number of potential participants?

2.As for payment, how does that usually work? I see the design proposals. Choose the one I like. Maybe pay the winner half the amount. He sends me the AI file. Then I send the other half? Is that reasonable and the standard process or what?

 

Requesting the designs in AI is pretty standard, although the many designers might use photoshop (PSD format) for the banner. I myself use illustrator almost exclusively for logos and banners.

As for the payment. Depends on where you are hosting the contest. On sites like getafreelancer you need to put the money in escrow and release it upon receiving the files. On DP I guess a lot of designers would be willing to mail you the files at half payment, then receive the rest.

BTW, I am a graphics designer. I could do the job for you. Take a look at my portfolio.

lonelypixels.com/portfolio.html

PM me if you are interested.

 

I'm interested, thought I'm going for pretty cheap here, like $20-25 so I'm not sure if you'd be willing to do it for that. Anyway, if you are, here's what I'm looking for:

I need a pretty simple logo and header to be done for my website.

I want the logo to consist of a pretty simple looking shopping cart and shirt.
And to the right of it is the text.
"AB SELLER"
With the slogan below it
"Your source for heavily discounted AB goods!"

-I want colors green and blue. They should match the green and blue in the attached image.
-I want it to be in AI format so I can make adjustments later if necessary. <b>I want to the text to still be in text format so I can change it later. I'm not 100% positive about my slogan and name at this point!"</b>
-I want it glossy, similar to the style of the stuff found on the site myvectorstore.com. Attached is a cart image found on myvectorstore---the cart can be along those lines---very simple---icon level simplicity.