Agreement between a Newspaper
Publisher and an Advertising Agency for Securing Advertisements
ADVERTISING AGREEMENT
THIS AGREEMENT made
at.................on this.................day of.................20............
Between:
M/s. .............................., a
company incorporated under the Companies Act, 1956 and having its registered
office at ......... hereinafter called "the company", (which
expression, unless it be repugnant to the context or meaning thereof, be deemed
to mean and include its successors and assigns) of the FIRST PART
And
M/s. .............................., a
company incorporated under the Companies Act, 1956 and having its registered
office at.............. here in after called "the advertising agency" (which
expression, unless it be repugnant to the context or meaning thereof, be deemed
to mean and include its successors and assigns) of the OTHER PART.
WHEREAS the company
publishes a newspaper.................hereinafter referred to as "the said
newspaper" an English daily in circulation all over India.
AND WHEREAS the
company is desirous to appoint advertising agents for securing advertisements
for the said newspaper.
AND WHEREAS the
advertising agency has agreed to act as the advertising agents for securing
advertisements for the said newspaper on the terms and conditions hereinafter
mentioned:
NOW, THEREFORE, IN
CONSIDERATION OF THE FOREGOING AND THE MUTUAL COVENANTS HEREIN CONTAINED. THE
PARTIES HEREBY AGREE AS FOLLOWS:
The company appoints
advertising agency as the agents for securing the advertisements for the
publication in the newspaper I at the rates mentioned in the First Schedule
hereunder written. If the advertising rates are changed by the company, the
company shall deliver the copy thereof to the advertising agency under
registered post.
The advertising
agency shall secure such number of advertisements for the company as shall
occupy the space covered by pages of the said newspaper.
The Advertising
Agency shall send to the company the matter of each advertisement including
block of the photograph to be included in the advertisement two weeks before
the intended date of publication. The Agency shall also give a statement about
the size of the advertisement, on which dates and on which page of the
newspaper the advertisement will be published.
If the advertising
agency books any advertisement in the language other than English, the company
shall make arrangements for translating the same into English without any extra
charge.
The advertising
agency will collect the advertisement charges in respect of the advertisements
secured by it and shall remit the same to the company every week. If any
advertisement charges are not recovered for a period of six months from the
date of its publication, the advertising agency shall be liable to pay the same
to the company. However, if the said charges are recovered by the company later
on, the company shall pay the same to the advertising agency.
The company shall pay
a commission of.................% on the amount, for which the advertisements are secured
by the advertising agency and are published in the said newspaper. The company
shall pay the amount of commission to the advertising agency by tenth of the
next succeeding month in respect of the advertisements secured during a month.
The advertising agency shall be entitled to inspect the accounts of the company
in respect of advertisements published in the said newspaper.
The advertising
agency shall not secure advertisements for any other newspaper during the
currency of this Agreement. However, it can act as advertising agency to secure
advertisements for the magazines and journals.
The editor of the
said newspaper will have the power to refuse publication of any advertisement
secured by the advertising agency, if in his opinion the said advertisement is
obscene or of such a character that it should not be published in public
interest or if published it will violate the provisions of any law in force. If
the advertising agency is not satisfied with the decision of the editor, the
matter shall be referred to the Managing Director of the Company, whose
decision thereon shall be final and binding on both parties.
This Agreement shall
continue in force for a period of.................years from the date of these presents.
However, the Agreement may be terminated before the expiry of the period of
................. years by one month's notice in writing delivered by any party to the
other. If the company ceases to publish the said newspaper, this agreement
shall be deemed to be cancelled.
If the advertising
agency commits breach of any term of this agreement, the company may terminate
this Agreement and on such termination, the company shall not be liable for any
damages or loss thereunder arising to the advertising agency.
The Advertising
Agency shall indemnify and keep indemnified the company against any claim,
loss, costs, charges and expenses made by or incurred by or suffered by the
company on account of breach of copyright in any advertisement or on account of
any advertisement being found defamatory or otherwise objectionable or on any
other ground whatsoever.
Any dispute,
difference or claim arising out of or in connection with or incidental to this
Agreement shall be first attempted to be settled by mutual discussion, failing
which the parties shall refer the same to arbitration by an independent
Arbitrator appointed by the Mutual consent of both the parties. The Arbitrator
shall conduct arbitration proceedings in accordance with the Arbitration and
Conciliation Act, 1996 or any amendments thereto. The venue of arbitration
shall be at ..................
IN WITNESS WHEREOF,
the parties have caused their common seal to be affixed to these presents and a
duplicate thereof, the day and year hereinabove written
WITNESSES
1
The Company
For ..........................
(...........................)
Director
2. The Advertising Agency
For ............................
(...........................)
Director
