INS again asks ad agencies to clear all outstanding publication dues
After verifying the reports of Monthly Review Verification (MRV-03/20), the Indian Newspaper Society (INS) has found that certain ad agencies have not been making any payment, while several others have made very meagre payments towards publication dues for the last three months.
In its notice issued to all accredited advertising agencies, INS stated, “The Society has taken a very lenient view and not taken any action against any agency for the past three MRVs. However, all agencies are hereby informed that in view of the easing out of the lockdown in the entire country, agencies are expected to clear all outstanding publication dues, failing which action will be initiated as per rules of the Society.”
Further, all agencies whose bank guarantees have expired or about to expire and are up for renewal may furnish the same on or before the due date, failing which notice shall be sent to their bankers for encashment of the same without further notice/ correspondence to individual agencies.
It may be recalled that in May this year, too, INS had written to advertising agencies, urging them to clear all print dues immediately. It had asked all agencies to upload MRV/02-2020 details as per practice, that is, from the May 11 to 15, 2020.
Earlier in March 2020, the Society had written to ad agencies, stating, “There appears to be pressure on agencies to divert Print’s local retail ads to Radio and all the print budget of the corporate account is reportedly being diverted to TV.”
Despite the circulars, not much seems to have changed.