ISA calls for scrutnising contracts
The ISA has asked its members to closely negotiate and scrutinise existing contracts and take legal action in case a premature foreclosure is forced.
By PTI |
NEW DELHI: A day after broadcasters announced rolling back the 25 per cent surcharge on ad rates, the Indian Society of Advertisers (ISA) has asked its members to closely negotiate and scrutinise existing contracts and take legal action in case a premature foreclosure is forced.
In a statement issued to its members, ISA Chairman Bharat V Patel said, "We have noted the varying media reports which suggest that the IBF will reconsider the levy of a surcharge on new deals effective January 1, 2008 and that they propose to foreclose existing contracts."
He recommended all members to closely negotiate, monitor and scrutinise their existing and new contracts, agreements and arrangements.
ISA has also suggested advertisers to check whether their own or their agency's contract with broadcasters has any provision for foreclosure and if not then be prepared to take necessary legal recourse if a premature foreclosure is forced.
Yesterday, ISA welcomed the IBF's rollback of the surcharge saying that industry associations should work together to address issues of common interest for the overall development of the advertising industry.
Reiterating its position, the advertisers' body said, "ISA rejects the levy of any surcharge at any time and will strongly oppose any industry body collectively imposing rates, prices, levies, surcharge or increase by whatever name called."
Patel also recommended members to enter into tri-partite pacts between individual advertisers, channels and agencies.
He said a constructive dialogue between industry associations to resolve issues is in the interest of all in the ad industry and will continue to seek engagement with industry stakeholders to accomplish this.
In a statement issued to its members, ISA Chairman Bharat V Patel said, "We have noted the varying media reports which suggest that the IBF will reconsider the levy of a surcharge on new deals effective January 1, 2008 and that they propose to foreclose existing contracts."
He recommended all members to closely negotiate, monitor and scrutinise their existing and new contracts, agreements and arrangements.
ISA has also suggested advertisers to check whether their own or their agency's contract with broadcasters has any provision for foreclosure and if not then be prepared to take necessary legal recourse if a premature foreclosure is forced.
Yesterday, ISA welcomed the IBF's rollback of the surcharge saying that industry associations should work together to address issues of common interest for the overall development of the advertising industry.
Reiterating its position, the advertisers' body said, "ISA rejects the levy of any surcharge at any time and will strongly oppose any industry body collectively imposing rates, prices, levies, surcharge or increase by whatever name called."
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Patel also recommended members to enter into tri-partite pacts between individual advertisers, channels and agencies.
He said a constructive dialogue between industry associations to resolve issues is in the interest of all in the ad industry and will continue to seek engagement with industry stakeholders to accomplish this.
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