AAAA AND IAB RELEASE VERSION 2.0 OF TERMS & CONDITIONS
New T&Cs Include Third Party Ad Server Agreement
New York, NY - April 29, 2002 - 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
Publisher rejection of ad materials
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.
About the IAB
Founded in 1996, the IAB is the industry's leading interactive advertising association and represents companies that sell over 70% of online advertising, including AOL, CNET, DoubleClick, MSN, Walt Disney Internet Group, Yahoo! and many others. Its activities include evaluating and recommending standards and practices, fielding research to document the effectiveness of the interactive medium and educating the advertising industry about the use of interactive advertising. Members include companies actively engaged in the sale of interactive advertising.
About the AAAA
The American Association of Advertising Agencies is the national trade association of the advertising agency business. The 1,225 member agency offices it serves in the U.S., employ 65,000 people, offer a wide range of marketing communications services, and place 75 percent of all national advertising. Founded in 1917, the AAAA is a management-oriented association that helps its members build their businesses and acts as the ad agency industry's spokesman with government, media, and the public sector.
Marla Nitke IAB