AAAA and IAB Release Version 2.0 Of Terms & Conditions
- by April 29, 2002
Version 2.0 includes two key elements not addressed in last year's rendition: the first relates to third party ad-serving parameters; the second covers liability limitations. Agencies now have common language relating to their use of ad-serving solutions, and publishers have a clearer definition of liability coverage.
Version 2.0 also provides more thorough definitions of terms and of agency and publisher obligations. The most notable modifications are related to notification, reporting, and billing procedures; make-good definitions; publisher rejection of ad materials; and indemnification.
According to the announcement, like its predecessor, the new document is a collaborative effort by agencies and publishers designed to identify and address key issues facing today's Internet advertising industry. It is designed to improve efficiency and increase profitability for all parties involved in the buying and selling of advertising on the World Wide Web.
The joint task force for Version 2.0 Ts&Cs negotiations included both IAB and AAAA members. It was co-chaired by Susan Berg of the Walt Disney Internet Group and Jeff Weitzman of Yahoo! representing the IAB, and Adam Gerber of The Digital Edge representing the AAAA.
In a joint statement, they noted: "We have achieved our overriding objectives-to streamline operations and negotiations by addressing potential business issues facing publishers and agencies and provide the industry with a uniform document to use as a basis for agreements. The new Version 2.0 Ts&Cs reflect the state of the industry today and a greater understanding, on the part of agencies and publishers, of each other's businesses and business objectives. In effect, we have formalized the way many agencies and publishers are already doing business. As the industry progresses, so will these Ts&Cs, and we will continue to meet regularly to keep in step with this evolution."
The Ts&Cs are voluntary and are posted on both organizations' websites (www.iab.net and www.aaaa.org). Both the AAAA and the IAB said they will continue to urge their members and media companies who agree to the Terms and Conditions to attach them to future insertion orders.
IAB member companies that participated in the development of the Terms & Conditions included AOL, CNET Networks, Inc., Walt Disney Internet Group, DoubleClick, Terra Lycos, and Yahoo! Participating AAAA member agencies included Foote, Cone & Belding, Modem Media, OgilvyOne and The Digital Edge.
