New Mexico Checklist of Matters to be Considered in Drafting Contract Between Advertiser and Advertising Agency

• Category: Contracts - Advertising
• State: Multi-State
• Control #: US-13313BG
• Format: Word; Rich Text

Description

As the title indicates, this form is a checklist of matters to be considered in drafting a contract between an advertiser and an advertising agency.

Title: New Mexico Checklist of Matters to be Considered in Drafting Contract Between Advertiser and Advertising Agency Introduction: When entering into a partnership between an advertiser and an advertising agency, it is crucial to have a well-drafted contract that covers all essential aspects of their professional relationship. In the state of New Mexico, there are specific considerations and guidelines to keep in mind to ensure a fair and legally sound agreement. This checklist aims to outline the key matters that should be addressed when drafting a contract between an advertiser and an advertising agency in New Mexico. 1. Definitions and Parties: Clearly define the parties involved in the contract, specifying the advertiser's and advertising agency's legal names, addresses, and contact information. Additionally, establish definitions for terms and phrases specific to the agreement to minimize misunderstandings. 2. Scope of Work: Outline the scope of services the advertising agency will provide to the advertiser. This section should be detailed and cover aspects such as campaign planning, creative development, media buying, reporting, and any additional services required. 3. Compensation and Payment Terms: Specify how the advertiser will compensate the advertising agency, including the method of payment, frequency, and any milestones or performance-related bonuses. State the agency's billing cycle and provide clear guidelines regarding late payments, interest charges, and acceptable forms of payment. 4. Intellectual Property Rights: Address ownership and usage rights of all intellectual property created during the contract, including but not limited to campaign concepts, advertising materials, designs, logos, slogans, and any other creative works. Clarify whether the agency retains any rights for self-promotion purposes. 5. Confidentiality and Non-Disclosure: Include provisions to protect confidential information shared between the advertiser and agency. Specify the types of information considered confidential, the duration of the confidentiality obligation, and any exceptions or circumstances allowing disclosure. 6. Duration and Termination: Define the initial contract duration, including start and end dates, and detail termination conditions. Consider including provisions for early termination, breach of contract, and notice periods required for termination. 7. Indemnification and Liability: Address indemnification clauses, determining which party will be responsible for damages, claims, or losses arising from the advertising campaign. State the limitations of liability, including exclusions and caps on damages. 8. Governing Law and Jurisdiction: Specify that the contract will be governed by and construed under the laws of the state of New Mexico. Designate the jurisdiction where any disputes will be settled and include any required alternative dispute resolution methods, such as arbitration or mediation. 9. Insurance: Require the advertising agency to maintain appropriate insurance coverage, such as general liability and professional liability insurance, to protect both parties in case of any unforeseen circumstances or accidents. 10. Amendment and Entire Agreement: Establish the process for amending the contract and include a clause stating that the written contract represents the entire agreement between both parties, superseding any prior oral or written agreements. Types of New Mexico Checklist of Matters to be Considered in Drafting Contract Between Advertiser and Advertising Agency (optional): — New Mexico Checklist of Matters to be Considered in Drafting Contract Between Advertiser and Advertising Agency for Digital Advertising. — New Mexico Checklist of Matters to be Considered in Drafting Contract Between Advertiser and Advertising Agency for Broadcast Advertising. — New Mexico Checklist of Matters to be Considered in Drafting Contract Between Advertiser and Advertising Agency for Print Advertising.