By: M4G Bureau
Last updated : August 30, 2018 10:35 am
Rules have been laid down for agency accreditation; new agencies may apply for provisional accreditation
The IOAA accredits the agencies as per parameters like paid-up capital, networth, etc. New agencies can apply for provisional accreditation which will get converted into full accreditation at the end of 5 years. Invariably, new agencies are seen to be causing payment problems to the suppliers. IOAA would be able to effectively intervene in the matter of payment defaults where the concerned agency is duly accredited.
IOAA has laid down the Rules governing the accreditation. “For any new Agency, following the Rules will enable it establish itself quickly and smoothly. It will also provide Media Companies with security to offer credit to new Agencies and to help them to grow instead of constantly looking at new and small agencies with suspicion because their earnings would be at stake,” the note states.
IOAA has an updated list of agencies that are fully accredited and those that have provisional accreditation. The details may be obtained from the industry body’s website.
The note states that if indeed there is business to be done with a non-accredited agency, upfront cash payment will eliminate the risk of default.