Company Policy: Media Release and Full Payment
- Introduction
This policy outlines the guidelines and procedures to be followed by all employees and contractors of Mikes Media House (“the Company”) regarding the release of digital assets to clients. The policy emphasizes the importance of receiving full payment before any media is released to ensure the protection of the Company’s interests and to maintain a fair and sustainable business relationship with our clients.
- Media Release Policy
2.1. Full Payment Requirement: Mikes Media House shall not release any digital assets, including but not limited to videos, photographs, graphic designs, or other media creations, until full payment has been received from the client.
2.2. Invoice Submission: The finance department shall promptly issue an invoice to the client once the media project is completed and ready for delivery. The invoice will include detailed information about the services rendered, the agreed-upon price, and the payment due date.
2.3. Delivery Hold: Until full payment is received, the Company shall retain the right to withhold the delivery of any completed media projects or assets, both physical and digital, until such payment is made in accordance with the terms outlined in the invoice.
2.4. Client Notification: The responsible project manager or account executive shall inform the client about the Company’s policy of withholding media release until full payment has been received. This notification shall be made clear and concise in written or electronic form, preferably through a signed agreement, contract, or email communication.
- Exceptions and Negotiations
3.1. Pre-approved Credit Arrangements: In exceptional cases, the Company may enter into a pre-approved credit arrangement with a client. Such arrangements should be reviewed and approved by the finance department and management. The terms of credit and payment schedules should be clearly defined and documented in writing.
3.2. Payment Plans: In certain circumstances, the Company may agree to a payment plan with a client for large-scale or long-term projects. These arrangements should be mutually agreed upon in writing, with a clear payment schedule and deadlines.
3.3. Late Payment Penalties: If a client fails to make full payment within the agreed-upon time frame, the Company reserves the right to apply late payment penalties or take appropriate legal action to recover the outstanding payment. The details of any penalties or legal actions will be outlined in the client agreement or contract.
- Compliance and Enforcement
4.1. Employee Responsibility: All employees and contractors of Mikes Media House shall adhere to this policy and ensure that no media is released without receiving full payment. They should communicate this policy to clients and promptly inform the relevant departments if there are any concerns or deviations.
4.2. Monitoring and Reporting: The finance department shall monitor payment statuses and communicate with project managers or account executives regarding any delays or issues. Management should be promptly informed of any non-compliance or disputes relating to the release of media before payment.
4.3. Policy Violations: Violations of this policy may result in disciplinary action, including but not limited to verbal or written warnings, suspension, or termination, as determined by the management and HR department.
- Conclusion
Mikes Media House is committed to maintaining a fair and transparent business relationship with clients. This policy ensures that the Company’s digital assets are protected and that clients meet their payment obligations promptly. By adhering to this policy, we aim to foster trust, professionalism, and financial stability in all our business transactions.
This policy is subject to review and amendment as necessary to align with changes in business practices or legal requirements. Any updates or revisions to this policy shall be communicated to all employees and contractors.
