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IAB and 4A's issue revised terms and conditions for online advertising

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New York--The Interactive Advertising Bureau and the American Association of Advertising Agencies issued revised Terms & Conditions for Internet Advertising, which are designed to improve efficiency for the buying and selling of online ads.

Version 2.0 of the terms and conditions includes two important new elements: The establishment of common parameters for online ad serving and definitions for liability limitations.

The guidelines also provide definitions of agency and publisher obligations related to notification; reporting and billing procedures; make-good definitions; publisher rejection of ad materials; and indemnification.

The terms and conditions are voluntary and are posted on both organizations' Web sites (www.iab.net and www.aaaa.org). The IAB and the 4A's will encourage their members and media companies to attach the terms to future insertion orders.

IAB member companies that participated in the development of the terms and conditions included AOL Time Warner Inc., CNET Networks Inc., Walt Disney Internet Group, DoubleClick, Terra Lycos and Yahoo! Inc. Participating AAAA member agencies included Foote, Cone & Belding Worldwide, Modem Media, OgilvyOne and The Digital Edge.

--Kate Maddox

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