IAB announces Standard Terms for interactive advertising 3.0 for comments

The Interactive Advertising Bureau (IAB) and the Association of American Advertising Agencies (AAAA) has announced the release of the ''AAAA / IAB Standard Terms and Conditions for Interactive Advertising Version 3.0'' for public comment.

This new version of the Terms & Conditions (Ts&Cs) now encompasses the breadth of advertising platforms and tools that are currently utilised in the creation of an interactive advertising campaign, including performance-based advertising and user-generated content platforms.

This contract will become the standard by which media companies and agencies or advertisers expedite the most common types of interactive media buys.

In addition to including new interactive platforms, the ''AAAA/IAB Standard Terms and Conditions for Interactive Advertising Version 3.0'' contains updates across the following key areas:

• Data usage
• Third-party ad-serving, tracking, and billing
• Billing and payment terms
• Cancellation terms
• Editorial adjacencies
• Late creative
• Indemnity 

''The revised Ts&Cs will have a dramatic ? and positive ? impact on the daily business practices in the advertising community,'' said Nancy Hill, president and CEO of the AAAA.

''We brought agencies and media companies together with the idea of creating a document that will improve work flow and make it easier to buy interactive advertising and I think we've succeeded.''