• by Masha Geller , April 29, 2002

The AAAA and the IAB have finally made good on a promise made almost a year ago – to deliver an updated, more comprehensive version of Terms & Conditions for Internet Advertising.

Released today and available for download from both associations’ websites, the new Ts&Cs include two key elements not addressed in last year's rendition: the first relates to third party ad serving parameters; the second covers liability limitations.

Version 2.0 – a total of 5 pages - 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.

The document is designed to accompany agency or media company insertion orders. Adoption of these Ts&Cs is, of course, voluntary, but both the AAAA and the IAB said they will continue to “urge” their members and media companies to accept them.

Like its predecessor, the new document is a collaborative effort by both IAB and AAAA members. In a joint statement, they noted: "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."

I predict tomorrow my inbox will overflow with acceptance declarations from major industry players, but your thoughts on the acceptability of these new guidelines would be welcome and much appreciated.