A new standard contract between British advertisers and their agencies will be launched by three of the industry’s trade bodies on September 2.

The Institute of Practitioners in Advertising, advertiser group ISBA and the Chartered Institute of Purchasing Supply first drew up an agreed contract in 1998. This standard agreement has now been updated to reflect new laws on data protection and financial services.

The new contract – drafted by law firm Lewis Silkin – has three different versions: one for full-service agencies and one each for specialist creative and media shops.

“Switching accounts can cause a variety of headaches for both sides, which are exacerbated by uncertainty about their respective rights and obligations,” commented Lewis Silkin’s head of advertising law Brinsley Dresden. “With this client–agency contract, everyone knows where they stand.”

Data sourced from: BrandRepublic (UK); additional content by WARC staff