AAAA & IAB: Terms & Conditions For Internet Advertising Version 2.0.

One year after issuing the first-ever Terms & Conditions for Internet Advertising, the American Association of Advertising Agencies (AAAA) and the Interactive Advertising Bureau (IAB) today issued an updated, more comprehensive Version 2.0.

Version 2.0 includes two key elements not addressed in last year’s rendition: the first relates to third party adserving parameters; the second covers liability limitations. Agencies now have common language relating to their use of adserving 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

Indemnification.

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’ Web sites (www.iab.net and www.aaaa.org). Both the AAAA and the IAB 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.

To download the Terms & Conditions Version 2.0 CLICK below (Adobe Acrobat required):

http://www.aaaa.org/news_releases/internet_tc02.pdf

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http://www.adobe.com/products/acrobat/readstep2.html