I am a clever website owner and have a good site that has solid PR (page rank). My main idea is to promote couple of my new sites so what I would engage you in is as follows. My high PR site will link to your website and in return your site(s) will link to all of my new websites. As there are no link exchange program available for such a setup, myself and you will place all the links manually on our websites for the process as defined above to work.

On the face of it, it seems like a wonderful deal. You provide A with a link on your website, and you get a link on B's website in exchange so you and dear old A both get a one way link and a couple of points added to your Google algorithm right?.

The problem is that it seldom works that way. A great many of these 3 way link offers we receive are actually not worth the time and effort it takes to set X's link up in our directory. In fact, a large number of webmasters create a simple web design and host it on a free hosting provider to use as a "catch-all" for link exchanges. Moreover, you will not be comfortable with a thought that your links are still maintained on my site or not.

If you are really interested in a 3 way link exchange setup then you may consider joining a service where although the setup is somewhat similar but the service provider pays off for all the hard work to keep a check on following issues. All sites keep the linking code intact, the fairness of the program is maintained as every on will link to one and get linked from one website.