IOAA brings SOP v5.5 into effect from September 1

IOAA has taken the firm step to bring the latest version of SOP into effect to help streamline the credit and payment processes. This is being done after deliberations with the agencies.

In the continuing effort to move the Indian OOH industry to a formally organised sphere that benefits all stakeholders of the business in good measure, the Indian Outdoor Advertising Association (IOAA) will bring into effect version 5.5 of the Standard Operating Process (SOP) from September 1, 2017. While some of the provisions in the SOP may be fine-tuned further in the coming months, IOAA has taken the firm step to bring the latest version of SOP into effect to help streamline the credit and payment processes. This is being done after deliberations with the agencies.

Some of the key provisions of the SOP are:

• All agencies and aggregators, as well as IOAA members with direct clients, shall hereon inform their clients about the SOP.
•  All pending PO/RO, if any, for ongoing or completed campaigns need to be issued by August 31, 2017 by all agencies and aggregators – which is also a GST requirement for obtaining invoices in time
• Payments older than 180 days to be cleared with immediate effect – availing input credit or carry forward credit will not be possible otherwise
• Payments older than 90 days to be regularised or initiated

The SOP also urges the stakeholders to desist from accepting or releasing campaign bookings for less than 10 days.