When the Editorial Company blocks out a specific period of time, this represents an agreement with the agency and/or advertiser that the Editorial Company will make no further attempt to sell that block of time-that belongs to the agency or advertiser. If within the framework of the Guideline times specified below, e.g., less than five working days, etc., a job is cancelled or postponed, then it is unlikely that the time can be resold.
The Editorial Company acknowledges, however, its obligation and desire to make all reasonable efforts to sell canceled or postponed time to another agency or advertiser. If time is resold, then there is an obvious area for discussion regarding the extent of cancellation/postponement charges to be assessed.
1 to 5 working days
If notice of cancellation or postponement is given within one to five working days prior to the scheduled starting date, the agency/client will be liable to the Editorial Company for:
- All out-of-pocket costs.
- Editorial labor/creative fee as bid
- 100% of mark up as bid
- 100% of booked AVID time
6 to 10 working days
lf notice of cancellation or postponement is given within six to ten working days prior to the scheduled starting date, the agency/client will be liable to the Editorial Company for:
- All out of pocket costs
- Editorial labor/creative fee as bid
- 50% of markup as bid
- 50% of booked AVID time
More than 10 working days
If notice of cancellation or postponement is given more than ten working days prior to the scheduled starting date, the agency/client will be liable to the editorial Company for:
- All out of pocket costs
- Editorial labor/creative fee as bid
- A service charge of not less than 15% of total bid price
