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Media News: OFT vetoes 'bank guarantee' calls.(Office of Fair Trading)(Brief Article)
The Office of Fair Trading has ruled in favour of media agencies in their long-running dispute with broadcasters over the imposition of stringent credit guarantees for advertising payments.
The credit arrangements were introduced two years ago by TV Eye, a consortium of ITV, GMTV, Channel 4 and Five.
They demanded that media agencies provide bank guarantees and letters of credit as security …
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