Credit Policy

Payment Terms

Advertising payment is due in advance. Credit-approved billed advertising is due in full, net 30 days from date of invoice. A 1.5% finance charge will be assessed on all accounts 30 days past due. Advertiser is subject to a satisfactory credit check, or prepayment will be required. The Newspaper accepts cash, check, Visa, MasterCard, Discover, and American Express. A fee of $15 will be charged on all returned checks. Advertiser shall pay for the advertising purchased according to the terms on the Newspaper's invoice/billing statement. If Advertiser fails to pay in accordance with these terms, the Publisher may reject advertising copy. If Advertiser's contract is canceled due to Advertiser's failure to make timely payments, the Newspaper may re-bill the Advertiser at the open or earned contract rate, whichever is applicable.

Agencies

An agency commission of 15% will be paid on open rate for ROP (run of press) advertising only. No other discounts apply. Ads must be press-ready. Agencies must be local and recognized by The New Mexican. All contract rates, ROP, Pasatiempo, TV Book, magazines, pre-prints, PIDS, post-its, etc., are net.
*Gross Receipts Taxes apply. See Pricing/Tax

Short Rate/Rebate

A short rate will be charged if the Advertiser fails to run sufficient advertising to fulfill advertising contract commitment. The Advertiser agrees to pay the short rate, the difference between the rate billed and the rate actually earned. In any case, the short rate amount shall not exceed the costs of continuing the agreement in force until its expiration date. Advertiser will be prohibited from signing contract levels previously unfulfilled. Rebates earned for exceeding contract level will be applied to a maximum of one contract level. Rebates will be issued in the form of a credit towards future advertising and must be used within 12 months.

Credits

Claim for a credit must be received by the credit manager within sixty (60) days from the date of billing statement or be deemed waived. Credit is granted only for the first day of an error and only for the space occupied by the error. Contract audits are accepted within 90 days of contract expiration.

Joint Ad Several Liability

If Advertiser utilizes an Agency, Advertiser and Agency shall be jointly and severally liable for complying with all rate card terms and conditions, including payment of all advertising.

Indemnification

The Newspaper shall not be liable for any loss or expense that results from the publication (whether published correctly or not) or omission of an advertisement. The Advertiser agrees to indemnify, defend and hold harmless the Newspaper from all claims (valid or invalid), suits, judgments, proceedings, losses, damages, costs and expenses, of any nature whatsoever (including reasonable attorney's fees) for which the Publisher may become liable by reason of Newspaper's publication of Advertiser's advertising. The Advertiser represents and warrants that any copy submitted is truthful and in compliance with all applicable laws and regulations.

Pricing/Tax

Local display advertising rates are non-commissionable. Retail display advertising rates apply to most firms, individuals, and associations selling goods/services in the state of NM. Retail rates do not apply to other rate classifications that the Publisher has or will establish (e.g., National, Classified or Category rates). The Publisher determines rate classifications. Tax is not included on the rates stated within the rate card. Any federal, state or local taxes imposed on the printing of advertising material or on the sale of advertising space in this Newspaper shall be assumed and paid by the Advertiser. Advertising is a service and is taxable to all Advertisers, including non-profit organizations. A Type 5 Resale certificate is required of advertising Agencies to be exempt from New Mexico state gross receipts tax.

Publisher Rate Card/Contract

The Publisher may revise advertising rate schedules at any time upon 30 days' written notice to Advertiser, and Advertiser may, without penalty, cancel its advertising contract at any time prior to the time the new rates become effective upon prior written notice to the Publisher. Rate cards appear online at http://www.santafenewmexican.com/advertising. A printed copy of a rate card is available upon request. The Publisher reserves the right to cancel any contract upon 30 days written notice to the Advertiser. Contracts will not be backdated beyond 30 days. Contracts are valid for one year, and do not automatically renew. Advertising contracts may not be assigned or transferred by Advertiser or its advertising agency.

Sequential Liability

Any statements concerning liability, which appear on correspondence from Advertiser or its Agency, are rendered void and are irrevocable without the written consent of the Publisher. It is further agreed that the Publisher does not accept those provisions in advertising orders or space reservations claiming sequential liability.

Incorrect Rates in Order Forms

When orders are forwarded by Advertiser or its Agency which contain incorrect rates or conditions, the advertising called for will be inserted and charged at the correct rate in force governing such advertising as provided for in the Publisher's rate schedule and in accordance with the conditions contained herein.