These terms and conditions (the “Terms and Conditions”) are a legally binding contract between the Buyer and the Publisher and apply to the acceptance of all Advertisements submitted for insertion in any FT Publication. The placing of an order or request for the insertion of an Advertisement shall constitute an agreement to these Terms and Conditions. Any such order shall not be deemed as accepted by the Publisher until the Advertisement is published. No variation or addition to these Terms and Conditions without the prior written consent of the Publisher shall be effective unless agreed to in writing by the Publisher and any additional terms the Buyer may seek to impose shall be void and/or unenforceable.

1 DEFINITIONS
The following defined terms are used in these Terms and Conditions:
1.1 “ABC” means the Audit Report prepared by Electronic Media Audits Limited trading as ABC Electronic;
1.2 “Advertisement” means any advertising material submitted by or on behalf of the Buyer (including without limitation Classified Advertisements, Display Advertisements, Financial Advertisements, Financial Listings and Job Advertisements) for insertion in an FT Publication;
1.3 “Buyer” means the person or legal entity placing with the Publisher the order for the insertion of the Advertisement, whether such person or legal entity is the advertiser of the relevant product or service (the “Advertiser”), or the Advertiser’s advertising agency, media buyer, or (in the case of Job Advertisements) a recruiter representing a prospective employer (in each case the “Agent”):-
1.4 “Classified Advertisements” means Advertisements placed in any classified section of the Newspaper using a typically using a 10 column format;
1.5 “Display Advertising” means any advertisements, other than Financial Advertisements and financial listings that do not appear under a Classified Advertising heading:-
1.6 “Financial Advertisements” means Advertisements placed in order to fulfil a regulatory requirement (i.e. notices of interest rate changes) or for the specific purpose of communicating with investors (i.e. results / investor relations Advertisements) or relating to a specific financial transaction (i.e. tombstones):-
1.7 “Financial Listings” means a single line of data appearing on daily or weekly basis that relates to a specific stock or fund and includes the most recently available market data for that stock or fund (i.e. share price, high / low, ratio):-
1.8 “FT Publication” means the Newspaper, Message Campaigns, any FT Site and/or any other material in, on or within which the Advertisement is included which is disseminated by the Publisher in any medium, including, without limitation, printed material, digital editions, websites, and emails:-
1.9 “FT Site” means the website http://www.ft.com and any online or wireless service operated by a member entity of the Financial Times group of companies on any digital platform, where such a member entity has not applied its own terms and conditions of insertion of Advertisements to that service:-
1.10 “Job Advertisement” means an advertisement advertising a job or other employment position:-
1.11 “Mail Order Services” means buying or selling goods to be shipped by mail:-
1.12 “Message Campaign” means where an Advertisement is inserted into emails, SMS, MMS or IM messages delivered by the Publisher, or any similar form (a “Message Campaign”),
1.13 “Newspaper” means any or all editions of the ‘Financial Times’ newspaper, including any reprints, supplements, magazines or other insertion:-
1.14 “NPA Recognised Agent” means an Agent recognised under the Joint Recognition Scheme of the Newspaper Publishers Association Limited and the Newspaper Society:-
1.15 “Prize Promotion” means an Advertisement which includes, promotes or makes reference to a competition, prize draw or similar:-
1.16 “Publisher” means The Financial Times Limited (or, for certain pages of the FT Site, FT Personal Finance Limited):-
1.17 “Publication Date” has the meaning as set out in clause 4.1
1.18 “Rate Card” means the Publisher’s rate card in effect for the time being:-
1.19 “Rates” means the retail price for any given Advertisement, exclusive of VAT and any trade or negotiated discount:-
1.20 “Rich Media” means non-standard formats of online Advertising that require special production or delivery processes:-
1.21 “Rich Publication Deadline” has the meaning set out in clause 4.1;-
1.22 “Run of Site” means Advertisements appearing anywhere on the FT Site at the discretion of the Publisher:-
1.23 “Run of World” means advertisements appearing to a user in any geographic location at the discretion of the Publisher
1.24 “Site Campaign” means an advertising campaign consisting of one or more Advertisements submitted by the Buyer for publication on an FT Site:- and
1.25 “Start Date” means the agreed commencement date of a Site Campaign.

2 PUBLICATION - GENERAL
2.1 The Buyer grants the Publisher an irrevocable, world-wide, royalty-free licence to reproduce, publish and republish the Advertisement within the relevant FT Publication.
2.2 The Publisher shall have at its absolute discretion the right to refuse, omit, postpone, change the position of, or require changes to, any Advertisement submitted for insertion at any time.
2.3 All Advertisers may be requested to complete a “Financial Times Advertiser Registration Form”.
2.4 The Publisher will not be responsible for any loss or damage, consequential or otherwise, occasioned by any error or omission in the insertion, of any Advertisement, or for any damage or loss of any copy, electronic files, data, drawings or other materials supplied for the purpose of an Advertisement or any shrinkage that may occur during the normal course of production.
2.5 Where an Advertisement includes a Prize Promotion, then unless otherwise agreed in writing the Buyer shall be solely responsible for the operation of that Prize Promotion (including the provision of all prizes). The Buyer warrants that it shall operate any Prize Promotion in compliance with all applicable laws, regulations and codes of practice. The Buyer further warrants that it shall comply with all applicable data protection legislation in connection with the operation of any Prize Promotion, including the Data Protection Act 1998 and that it shall only use any personal details of Prize Promotion entrants that it may obtain for the purposes expressly agreed to by such entrants.

3 ADVERTISEMENTS SUBMITTED FOR INSERTION IN THE NEWSPAPER
The conditions set out in this Clause 3 will apply to the acceptance of all Advertisements submitted for insertion in the Newspaper.
3.1 Advertisement copy shall be supplied to the Publisher in accordance with the relevant technical specifications set out in the Rate Card or online at www.ft.com/techspecs, which include among other matters copy lead times.
3.2 For Display Advertisements, colour is guaranteed for 90% of the total ABC audited circulation, excluding those copies of the Newspaper printed at mono-only print sites (at which the Buyer acknowledges Advertisements will not be printed in colour). Classified Advertisements are published worldwide in all editions unless otherwise stated, but will only be published in colour in the UK edition; colour is therefore guaranteed for 90% of the total UK ABC audited circulation.
3.3 Any Buyer offering Mail Order Services or requiring payment in advance of goods being dispatched must be a member in good standing of the Mail Order Protection Scheme (“MOPS”) and may be required to produce proof of such
membership to the Publisher prior to acceptance of the Advertisement.
3.4 Should a Buyer wish to make use of a ‘box number’ service offered by the Publisher, reasonable efforts will be made to forward replies to box numbers to the agreed address as soon as possible. However, the Publisher accepts no liability in respect of any loss or damage arising through delay or failure in forwarding such replies. The Buyer authorises the Publisher to open and return to its origin any such reply if it seems fit to the Publisher to do so. A box number is allocated for a single insertion of an Advertisement, and the charge includes holding the box number open for 21 days after the insertion of the Advertisement and the handling and posting to the Advertiser of all replies received. Airmail handling rates will be agreed prior to insertion where applicable.
3.5 Unless otherwise stated, the minimum size accepted for Display or Financial Advertisements is 3cms x 1 col. Any such Advertisement of lesser size than this will be charged as a 3cms x 1 col space at the appropriate rate.
3.6 The Buyer shall be liable to pay for any Advertisement cancelled or postponed other than in accordance with the timescales set out in Clause 4.5, in the Rate Card or online at www.ft.com/techspecs (“Specifications”) (and the Publisher shall not be bound by such cancellations or postponements).
3.7 The Buyer acknowledges that regional editions of the Newspaper may be printed and/or distributed outside of the geographical area with which they are associated and the Publisher does not accept any liability that may arise to the Buyer or Advertiser as a result of this.

4 ADVERTISEMENTS SUBMITTED FOR INSERTION ON AN FT SITE (INCLUDING MESSAGE CAMPAIGNS)
The conditions set out in this Clause 4 will apply to the acceptance of all Advertisements submitted for insertion in an FT Site or Message Campaign.
4.1 Advertisement copy shall be supplied to the Publisher in accordance with the relevant Specifications and shall be supplied at least 4 working days prior to the intended publication date (“Publication Deadline”), or 5 working days in the case of Rich Media (“Rich Publication Deadline”).
4.2 The Publisher shall have the option to publish the Advertisement, when the Advertisement copy is supplied after the Publication Deadline or Rich Publication Deadline. The Buyer agrees to pay the Publisher in full for all impressions or space ordered, in the event of non-publication of any Advertisement, due to failure to supply the Specifications before the Publication Deadline and Rich Publication Deadline.
4.3 With respect to the monitoring and counting of page impressions, the Buyer agrees to rely on the Publisher’s advertising management system which records and reports on the number of impressions served and unless the Buyer can prove that such a report contains a manifest error, the Buyer shall accept the results.
4.4 Buyer agrees that automated page impressions may be included in the total number of page impressions purchased. Automated page impressions constitute approximately one third of the total number of page impressions on an FT Site. Automated page impressions as a percentage of total campaign page impressions for a specific campaign may be greater or less than the average percentage referred to. This data is accurate as at 1 May 2007, data is regularly updated at www.abce.org.uk.
4.5 The Publisher shall not be bound by notices of stop orders, cancellation or transfers of Advertisements received:
4.5.1 in the case of sponsorship of microsites, surveys, Message Campaigns and other sponsorship or featured Advertiser positions, less than 28 days prior to Start Date;
4.5.2 in the case of all Advertisements or sponsorship on wireless versions of FT Sites, less than 28 days prior to the Start Date;
4.5.3 in the case of pop-ups and country-specific or other targeted Run of Site Advertisements, less than 14 days prior to the Start Date; or
4.5.4 in the case of Run of World or non-targeted Run of Site Advertisements, and in the case of Job Advertisements, less than 4 working days prior to the Start Date.
4.6 For a Message Campaign, the terms set out in this sub-Clause 4.6 shall apply:
4.6.1 The Publisher will not make available to the Buyer or any third party any data relating to recipients or intended recipients of the Message Campaign (including, without limitation, the Publisher’s database of users or any part thereof).
4.6.2 The Publisher makes no representation as to the accuracy or completeness of its database of users, and will accept no liability arising from any inaccuracy or incompleteness thereof.
4.6.3 The Buyer agrees that the charge made for a Message Campaign shall be based on the number of Advertisements sent, and not the number of Advertisements received, and acknowledges that the Publisher cannot provide any guarantees as to the number of Advertisements that will be received.
4.6.4 Advertisements for use in a Message Campaign will be subject to additional restrictions as to size, format and content.
4.6.5 No reference to the Publisher shall be made in the Advertisement without the Publisher’s prior written consent to the specific form and wording of such reference.
4.6.6 The Publisher will not intentionally send Advertisements to users of an FT Site who have informed the Publisher that they do not wish to receive such Advertisements.

5 LIABILITY
5.1 The Buyer contracts with the Publisher as a principal and warrants it has the authority to do so.
5.2 Subject to sub-Clause 5.3, if the Buyer is an Agent representing an Advertiser, the Agent and Advertiser shall each be a party to these Terms and Conditions and shall be jointly and severally liable to the Publisher. The Agent shall be solely responsible for making the Advertiser aware of these Terms and Conditions or any subsequent amendments that may be made by the Publisher.
5.3 If the Buyer is an NPA Recognised Agent sub-Clause 5.2 above does not apply in respect of any Advertisement submitted for publication in the Newspaper. For the purposes of this sub-Clause 5.3, if the Buyer is an NPA Recognised Agent and breaches these Terms and Conditions, only the Buyer (and not, if a separate entity, the Advertiser) shall be liable to the Publisher in respect of Advertisements submitted for publication in the Newspaper.
5.4 The Buyer warrants and represents that Advertisements submitted for publication (and, in the case of Advertisements submitted for publication on an FT Site, any website to which such an Advertisement links) shall comply with all applicable laws, regulations, codes of practice or similar in countries where the FT Publication is available. Without limiting the generality of the foregoing, the Buyer also warrants and represents that:
5.4.1 Advertisements submitted for insertion shall not contain any libellous, fraudulent, misleading or false statement, and shall not give cause, directly or indirectly, for any action to be brought against the Publisher for libel, fraud or publication of a false or misleading statement;
5.4.2 Advertisements submitted for insertion shall not infringe the copyright or other rights (including, but not limited to, moral rights, intellectual property rights, trade mark rights and rights of privacy) of any third party or unfairly prejudice the legitimate interest of any third party by implication or otherwise;
5.4.3 all necessary authority and permission has been secured in respect of the use in the Advertisement of pictorial representations of (or purporting to be of) living persons, and of references to the words attributed to living persons;
5.4.4 Advertisements submitted for insertion shall comply with the requirements from time to time of United Kingdom financial services legislation both as to content and authorisation, and that such Advertisements shall not give cause, directly or indirectly, for any action to be brought against the Publisher under the provisions of such legislation;
5.4.5 Advertisements submitted for insertion shall comply with all applicable state and federal laws and regulations of the United States America relating to the offer or sale of securities or pertaining to online gambling and gaming, and shall not give cause, directly or indirectly, for an action to be brought against the Publisher under the provisions of such laws;
5.4.6 Advertisements submitted for insertion shall comply with the British Code of Advertising Practice and all other codes under the general supervision of the Advertising Standards Authority (“ASA”) or any successor body;
5.4.7 Advertisements submitted for insertion shall not indicate an intention to discriminate on grounds of sex, race, religion or belief, disability, ethnic origin, age or sexual orientation (unless such an Advertisement is exempted from any statutory requirements relating to such forms of discrimination and the Buyer notifies the Publisher of the applicability of such an exemption at the time when the Advertisement is booked); and
5.4.8 Advertisements submitted for insertion in an FT Site shall not be designed or likely to cause disruption to any computer, computer system or network.
5.5 The Buyer will indemnify and keep indemnified the Publisher, its directors, agents and employees, fully and effectually against any and all costs, claims, damages, loss or other liability which it may incur as a result of any breach of the warranties and representations set out in these Terms and Conditions.
5.6 In each case to the full extent permitted by law: (a) the Publisher’s total liability to the Buyer in respect of any breach of the Publisher’s obligations under these Terms and Conditions shall be solely for direct losses incurred by the Buyer; (b) any liability on the part of the Publisher for any indirect, special, incidental or consequential loss or damage or for any loss of profits, loss of business or loss of revenues is hereby expressly excluded and (c) any liability on the part of the Publisher shall be limited in total to the price paid by the Buyer to the Publisher for the insertion of the Advertisement which causes the liability to arise. Nothing in the foregoing shall be construed as excluding or limiting the Publisher’s liability for death or personal injury caused by its negligence.
5.7 The Buyer shall be required to notify the Publisher within 30 days of the date the Advertisement is published if there are any complaints about the published Advertisement. If the Buyer fails to notify the Publisher within this period of time, the Buyer agrees that the Publisher cannot consider any complaint and will not be liable for any compensation or similar claims. This does not affect the Buyer’s statutory rights.

6 PAYMENT
6.1 Advertising rates are specified in the Rate Card. Rates are quoted exclusive of Value Added Tax and any other applicable sales taxes. Any Value Added Tax due on an Advertisement will be separately shown on the invoice.
6.2 The prices quoted for Advertisements do not guarantee the Buyer that the Advertisement booked will be a specific size. Advertisements will however cover a fixed proportion (based on the size booked) of the printed area of the page. The Publisher shall not be liable for any claims for refunds or compensation on the basis that a printed Advertisement is not the same size as quoted when booking. Please see the Rate Card or the Specifications for more details.
6.3 For Advertisements submitted for insertion in an FT Site, rates apply per thousand impressions served and are dependent on volume ordered and site position, except in the case of Job Advertisements or unless otherwise specified by the Publisher.
6.4 In the case of Job Advertisements submitted for insertion in an FT Site, charges will vary according to the terms of the individual agreement. The Publisher may agree to charge the Buyer according to:
6.4.1 the number of ‘job slots’ the Buyer agrees to occupy with individual Job Advertisements over a specified period of time; or
6.4.2 the number of individual Job Advertisements the Buyer agrees to order over a specified period of time.
Where a Buyer is charged according to sub-Clause 6.4.1 above, the Publisher will make no adjustment to the charge in respect of ‘job slots’ not occupied within the specified period of time. Where a Buyer is charged according to sub-Clause 6.4.2 above, and where the Buyer orders fewer Job Advertisements than is agreed within the specified period of time, the charge will be adjusted upwards accordingly.
6.5 Gross rates for Advertisements submitted for insertion in the Newspaper (except classified lineage and semi-display Advertisements) are subject to a 0.1% Advertising Standards Board of Finance (“ASBOF”) surcharge for all advertisements booked within the United Kingdom. This surcharge finances the self-regulatory system administered by the ASA.
6.6 Payment in respect of Advertisements submitted for insertion in an FT Publication is due, in the absence of any other specific arrangement between the Publisher and the Buyer, 8 working days in advance of publication or Start Date (as applicable).
6.7 Where the Publisher, within its discretion, agrees to allow credit to the Buyer in respect of Advertisements inserted in the Newspaper, the due time for payment shall be no later than 10.00 am:
6.7.1 if the Buyer is an NPA Recognised Agent, on the last working day of the month following that in which the Advertisement appeared; or
6.7.2 in any other case, on the 25th day following the date on which the Advertisement appeared (or, if such 25th day is not a working day, the working day immediately prior to such 25th day). Full details of each remittance are to be supplied to the Publisher by the due time.
6.8 Where the Publisher, within its discretion, agrees to allow credit to the Buyer, payment in respect of Advertisements inserted on an FT Site is due within 30 days of the date shown on the invoice. Except in the case of Job Advertisements, the Publisher may invoice the Buyer in respect of such Advertisements on or at any time after the Start Date. In the case of Job Advertisements (where the Buyer is required to book a minimum number of Advertisements over a defined period), the Publisher will invoice the Buyer for the minimum amount of Advertisements booked on or at any time after the date on which the first such Advertisement is published, and will invoice the Buyer for any further amounts due on, or at any time after, publication of the last such Advertisement.
6.9 Payment shall mean the receipt by the Publisher at its principal place of business (or elsewhere as it may direct) of cash or the crediting to the Publisher’s bank account of a cheque or money transferred electronically or through the clearing bank’s BACS system.
6.10 The Publisher may require the Buyer to furnish a bank guarantee or other collateral security or to enter into an escrow arrangement, as a condition of any order for the insertion of an Advertisement.
6.11 Except in the case of Financial Listings, a commission of 15% on the gross invoiced amounts is allowed to NPA Recognised Agencies. In the case of Financial Listings, a commission of 10% is allowed to such agencies. Where the Buyer is not an NPA Recognised Agent, no commission is allowed unless otherwise agreed by the Publisher.
6.12 The Publisher shall not provide a refund when an annual contract relating to an entry in the Financial Times Share Information Service, a Unit Trust, Offshore Fund or Insurance Bond quotation, or any other listing for which a charge is made is cancelled. Where payment is not received in accordance with this Clause 6, the Publisher reserves the right to remove the listing from any or all FT Publication(s) without prior warning to the Buyer.

7 MISCELLANEOUS
7.1 The Buyer acknowledges that FT Sites are accessible worldwide. The Publisher makes no representation that any publication of any Advertisement will be confined to persons resident in any particular legal jurisdiction(s).
7.2 The Buyer acknowledges that in order to publish an Advertisement on a particular date, the Publisher will be obliged to supply to external parties copies of and/or information relating to the Advertisement prior to the agreed date of publication. The parties agree that any such action by the Publisher shall not constitute breach of any embargo (or similar) placed on the Advertisement.
7.3 The Buyer may not assign or transfer any of its rights under these Terms and Conditions to any third party.
7.4 These Terms and Conditions shall constitute the entire agreement between the parties with regard to its subject matter and shall supersede all prior understandings, commitments and undertakings that either party may have given.
7.5 Except as expressly provided in these Terms and Conditions, no provision of these Terms and Conditions shall confer any right on any third party. To the fullest extent permitted by applicable law, the parties hereby exclude any such right (including any such right arising under statute).
7.6 With exception of the Buyer’s payment obligations, neither the Publisher nor the Buyer shall be liable to each other for any liability or damage, consequential or otherwise, caused by or arising out of any strike by employees, lock-up, trade dispute, enemy action, act of terrorism, rioting, civil commotion, fire, Act of God or other similar contingency beyond the control of either of them.
7.7 If any provision of these Terms and Conditions shall be invalid or unenforceable, it shall not affect any other provision, which shall remain in full force and effect.
7.8 The Publisher shall have the right to modify these Terms and Conditions and the Rate Card, and may publish a new Rate Card containing new terms or otherwise notify the Buyer of changes to these Terms and Conditions or to the Rate Card. Such changes will apply to any order or request for the insertion of an Advertisement subsequently placed by the Buyer.
7.9 At the time of publication of the Rate Card, the registered offices of The Financial Times Limited (registered no. 227590) and FT Personal Finance Limited (registered no. 3855520) are at Number One Southwark Bridge, London SE1 9HL.
7.10 These Terms and Conditions are governed by English Law. The parties agree that the English courts shall (subject to the following sentence) have exclusive jurisdiction to settle any dispute which may arise out of these Terms and Conditions and submit all disputes to the jurisdiction of those courts. However, for the exclusive benefit of the Publisher, the Publisher shall retain the right to bring proceedings in the courts of the country (or state) of the Buyer’s place of business.

© The Financial Times Limited 2007

CANCELLATIONS
Cancellation deadlines for the FT Newspaper
(B/W and Color)
20 working days notice for all special positions, all color advertisements.
10 working days notice for all B/W advertisements of a quarter page (277 mm x 4 cols or equivalent) and above, except multi-page advertisements and reports.
28 working days notice for multi-page advertisements and reports. (Orders for advertisements in reports are accepted on the understanding that the Financial Times may publish at any time within 5 weeks of the proposed reports date.)
6 working days notice for early printed sections excluding reports and multi-page advertisements.
4 working days notice for all other B/W advertisements.
All cancellations must be in writing.
Cancellation deadlines for How To Spend It
2 months prior to copy deadline. Cover sites, contracts and double page spreads, 4 months.
Advertorials are non-cancelable.
Cancellation deadlines for FT Magazine
4 weeks prior to copy deadline. Cover sites, contracts and double page spreads, 6 weeks.
Advertorials are non-cancelable.