IAMAI Introduces Accreditation And Credit Policy For Interactive Agencies

This is an interesting development. The Internet and Mobile Association of India (IAMAI), the apex industry body for India’s digital media companies, is going the Indian Newspaper Society (INS) way. IAMAI has introduced a credit policy and accreditation process for agencies dealing with online advertisements. An official release says that the policy has the support of leading online publishers in India including Rediff.com, Yahoo! India, Indiatimes.com and Sify.com. According to Subho Ray, President, IAMAI, the new policy will set standards of relationship between online publishers and agencies which is currently “bilateral and haphazard”.
The policy consists of three aspects:
a) A common credit policy for all accredited agencies
b) An accreditation process
c) A process of recovery of dues from agencies
Under the Policy, a 60 day credit would be extended by affiliated publishers to all accredited agencies with a 30-day window for negotiation, reconciliation and settlement.
The policy will come into effect from 28 March 2007, after the one-month window given to agencies for accreditation expires. IAMAI’s policy, which will act like Indian Newspaper Society’s accreditation policy, would regulate the relationship and payment schedules between online publishers and agencies. If the policy works out successfully in the first stage, IAMAI would consider taking the next step of setting up certain norms supporting the agencies’ recovery from advertisers, the release says.
It looks like a good thing since the industry is getting organised.

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