Radio Advertising Contract

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Radio Advertising Contract Powered By Docstoc
					                               RADIO PURCHASING AGENT AGREEMENT


                                                       BACKGROUND

A) [Insert name of Advertiser], with an address of [insert full address] “Advertiser” is in the
   business of among other things, marketing products or services via radio advertising.

B) [Insert name of Radio Media agent/agency] with an address of [insert full address] “Agency”,
   is among other things, a media agency that has access to radio airtime through a wide range
   of stations, networks, and syndicators and books and manages time thereon for a wide variety
   of clients.

C) Advertiser and Agency may collectively be referred to herein as the “Parties”. The Parties
   wish by this Agreement to set forth the terms under which Agency will purchase commercial
   time on radio stations, networks, and syndicators airing in the United States and Canada on
   behalf of Advertiser.


                                                         COVENANTS

1.    Media Purchasing. Agency will act as Advertiser’s exclusive agency of record for the
      placing and purchasing of radio media time on all stations, networks and through
      syndicators in the United States and Canada [Insert type of advertisement, for example, 15
      second radio spot] produced, marketed or distributed by Advertiser.
2.    Administrative Services. Subject to Advertiser’s fulfillment of its obligations under Section
      3, Agency will review all media contracts to be entered into hereunder on behalf of
      Advertiser for verification of all particulars contained therein, including, without limitation,
      extent, dates, and times of media placements. Agency will secure and verify for accuracy all
      proof of performance records (station invoices and affidavits shall serve as proof of
      performance records) of all media placed on Advertiser’s behalf and present them to
      Advertiser in a timely manner each month.
3.    Media Charges. Agency shall bill Advertiser for the media charges incurred or booked on
      Advertiser’s behalf and Advertiser shall pay for the same as specified herein.
4.    Commissions. The gross media rate stated by the applicable media provider is generally
      15% more than the provider expects to receive. Advertiser shall pay Agency one hundred
      percent (100%) of the gross dollar amount of each media purchase made by Agency on
      behalf of Advertiser. This will include Agency’s commission at a rate of fifteen percent
      (15%) of said amount in full consideration of Agency’s services pursuant to this Agreement.
      By way of example, if a media purchase has a gross media rate of $1000.00, Advertiser will
      be responsible for proper payment of $1000.00 to Agency that shall represent payment in
      the amount of $850.00 for media and $150.00 as Agency’s commission.
5.    Invoices and Payments. Agency will invoice Advertiser for media charges and commissions
      on a weekly basis and Advertiser shall remit proper payment for the full amount shown due
      on each invoice as described herein. Time is of the essence in all payment matters.

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      5.1 Billing terms are cash in advance, through two full broadcast weeks: Agency invoices
      will reflect all commissions and media charges for media items not previously invoiced and
      airing or scheduled to air through two full broadcast weeks past the invoice date (through
      the third Sunday after the invoice date).
      5.2 Payment: Advertiser shall have five business days from receipt of Agency’s invoice,
      including the date of receipt, to deliver proper payment to Agency.
      5.3 Should Agency fail to receive payment by the due date, Agency will notify Advertiser
      that it has not received proper payment and Advertiser shall have until the close of the
      business day following receipt of this notice to deliver payment to Agency to avoid a
      material breach of this agreement. If this default is not cured and / or upon Agency's failure
      to receive reasonable assurance that a timely curing payment is forthcoming, Agency may,
      in its sole discretion and without notice to Advertiser, cancel any or all remaining scheduled
      media placed on Advertiser’s behalf by Agency in addition to pursuing any other legal
      remedies available. All amounts not paid after 30 days of presentation on an invoice shall
      bear interest at the rate of 10% per annum from the date due until paid as late fee, payable
      on demand.
      5.4 If Advertiser fails to pay any invoice in full and when due, then pending payment
      thereof, including applicable interest if any, Agency, upon 3 days notice to Advertiser, may
      suspend all services as provided for in Sections 1, 2 and 6 until payment is made and
      Agency will not be deemed in default, nor will Advertiser be deemed relieved of its
      obligations hereunder. If Agency retains a collection agency and or counsel for the purpose
      of enforcing its rights under this Agreement, Advertiser agrees to pay, on demand, Agency’s
      costs and expenses (including court/arbitration costs, collection agent and reasonable
      attorney fees) incurred in connection therewith.
6.    Credits, Rebates and Audit Rights. If media time for which Agency has invoiced Advertiser
      does not air, Advertiser shall be credited the amount that was invoiced for that media
      together with all other credits, discounts, commissions, rebates, refunds, or such similar
      payments received in connection with media time that did not air on the next invoice to
      Advertiser or as soon as otherwise practical so long as Advertiser is current in all
      obligations to Agency on this or any other Agreement with Agency. If Advertiser does not
      have any outstanding obligations to Agency, all credits or similar amounts due Advertiser
      shall remain on account with Agency until such time Agency receives a written request for a
      refund from Advertiser. At any reasonable time during the term of this Agreement, and for
      one (1) year thereafter, and upon fourteen (14) days prior written notice to Agency,
      Advertiser may examine Agency’s files and records pertaining to media purchases made on
      behalf of Advertiser only.
7.    Term. This Agreement shall take effect upon execution and shall remain in effect until thirty
      (30) days after either party informs the other, in writing, of termination. All provisions that
      are intended to survive termination shall survive termination, including, but not limited to
      Advertiser’s obligation to compensate Agency for all media placed on Advertiser’s behalf
      by Agency, Agency's commission and interest thereon, and Agency's obligation to refund all
      credits due to Advertiser.
8.    Cancellations. Subject to the cancellation policies of each individual media entity, and upon
      Agency's receipt of Advertiser’s written instructions to cancel media purchases, Agency

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      shall exercise all reasonable efforts to cancel all television airtime purchased by Agency on
      behalf of Advertiser which Advertiser is unable to use or no longer desires. The obligation
      to pay Agency for all media that Agency is unable to cancel exists even if Agency has not
      yet invoiced Advertiser for that particular media. Advertiser shall be liable for any and all
      media charges and Agency commissions for the media time that Agency is unable, despite
      the exercise of all reasonable efforts, to cancel. Advertiser acknowledges that to best serve
      Advertiser, Agency books airtime on an ongoing basis and this may include media airing
      within a few days of its booking.
9.    Disclosure. Neither party may disclose the terms of this Agreement to a third party except
      as is reasonably necessary to perform obligations or rights under this Agreement, provided
      that either party may disclose the existence of the relationship created by this agreement.
10. Warranty Disclaimer. AGENCY MAKES NO WARRANTIES, EXPRESS OR IMPLIED,
    INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES WITH RESPECT TO

				
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posted:12/8/2011
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Description: This document is between a radio media buying agency and its client (advertiser) for the purchase and placement of radio advertisements in the United States and Canada. This contract can be modified to fit specific territories and varying media commission rates.
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