For now lets ignore the “white label” as we know what it means.
You just need to set the prices for your service, you dont need to worry about any commission as that is not what he is looking for.
For example, lets say you provide service Y for $xxx. What is happening is that “I” would sell the service for $yyyy to my clients, then you would do the work and I would pay you $xxx.
Depending on how he works, you might work directly with his clients (acting as your working in his company) or he will deal with the clients, and you will just deal with him.
Since he has not really given you too much information, just send him an email asking him to describe what service he is looking for and you can let him know if you can do them and what the price would be.
Though if he has really answered what you mentioned earlier, he might not be the easiest guy to work with, so keep this in mind.
In the first mail I sent to him, I did mention the prices but those are the standard prices list! And in the later mail also I said that we will offer an affordable pricing but I’ve not received any reply from him! May be I should try asking as you had suggested about what services he is looking for and later on the price! Anyways, thanks for your suggestion! Anything more you would like, please…I look forward hearing more!