You have the freedom to be creative in this task.
I do ask that you use a maximum of 3 colors.
Logo should give the impresson of reliability, strength and quality.
Try possibly experimenting with a red / white and blue combination such as those at ultimatefooterad.com
The logo must be delivered in different file formats for print and web including EPS, JPEG and Photoshop PSD
The final logo / brand should be designed so that it easy encorporated into other media both online and offline.
Examples might include as, banner ads at different sizes, T-Shirt, Postcards, affliate promotion images/tools