ASC Circular 2024-002 – ASC Reminder on Applications / Promissory Notes Guidelines and Timelines
ASC Circular 2024-002 – ASC Reminder on Applications / Promissory Notes Guidelines and Timelines
The Ad Standards Council would like to remind all applicants – advertisers, agencies and media entities about the application and payment schedules strictly being observed and implemented by the ASC, especially on the settlement of Promissory Notes (PN).
The ASC is re-sharing the said guidelines and timelines to guide applicants and their finance teams and to allow them to settle their accounts ON TIME to avoid rejection or non-acceptance of their future applications due to unsettled accounts.
GUIDELINES:
REGULAR APPLICATIONS – CUT-OFF
a. For filing of applications is at 11:00AM in order for application to be processed on the SAME DAY. An email informing the applicant that his/her application has been accepted will be sent. It will also state the ASC Reference Number of the application and the amount of application fee to be paid.
Applications submitted at 11:01AM will be lined up by the system for processing the following day. Once processed the next day, that is the only time the applicant will receive the email confirmation as mentioned above.
b. For uploading of proof payment (deposit slip or voucher)/promissory note (PN) is at 3:00PM in order for the decision to be released the following day, from 7AM to 9AM.
Proof of payment (deposit slip or voucher) / PN uploaded at 3:01PM will move the release of decision to day after tomorrow or two days from application date.
For applications submitted on a Friday, proof payment (deposit slip or voucher)/PN uploaded on or before 3pm will result to the release of decisions on the following day (Saturday) between 7AM to 9AM.
Proof of payment (deposit slip or voucher)/PN uploaded at 3:01PM will move the release of decision to Tuesday, from 7AM to 9AM.
SPECIAL APPLICATIONS – CUT -OFF
a. For filing of special applications is at 11:00AM in order for application to be processed on the SAME DAY. An email informing the applicant that his/her application has been accepted will be sent. It will also state the ASC Reference Number of the application and the amount of application fee to be paid.
Special applications submitted at 11:01AM will be lined up by the system for processing the following day. Once processed the next day, that is the only time the applicant will receive the email confirmation as mentioned above.
b. For uploading of proof payment (deposit slip or voucher)/promissory note (PN) is at 3:00PM in order for the decision of your special application ON THE SAME DAY to be released
For special screening and/or special clearing, proof of payment (deposit slip or voucher)/PN should be uploaded no later than 3PM in order for the ASC to release the decision of your special application ON THE SAME DAY.
Proof of payment (deposit slip or voucher)/PN uploaded at 3:01PM will move the release of special decision to the following day, from 7AM to 9AM.
PROMISSORY NOTE (PN)
As stated in the Promissory Note (PN) template, the application fee covered by a PN is supposed to be settled on or before the 5th work day from the date of application. However, some agencies / companies do not honor the Acknowledgement Receipt issued by the ASC for the PN as the proof of billing and requires the ASC to send them a Statement of Account (SOA), which will be the basis for their payment. By doing so, the payment lead time is extended in favor of the applicant and his/her company.
In line with this, the ASC is issuing the following timeline that will be strictly implemented by the ASC and should be followed by all applicants utilizing PNs to avoid banning/non-acceptance of future applications as a result of delayed settlement of PNs.
TIMELINE: Scenario assumes applicant applies with ASC on a daily basis
| Date/Day of Application | PN Due Date | ASC Sends Weekly Statement of Account SOA | SOA Payment Due Date | ASC Follow Up If No Payment Is Made | SOA Payment Final Deadline | NON-ACCEPTANCE by ASC of Brand’s Applications |
|---|---|---|---|---|---|---|
| JAN 8 (MON) | JAN 12 (FRI) | ) | ||||
| JAN 9 (TUE) | JAN 15 (MON) | ) JAN 13 (SAT) | JAN 18 (THU) | JAN 19 (FRI) | JAN 25 (THU) | JAN 26 (FRI) |
| JAN 10 (WED) | JAN 16 (TUE) | ) | ||||
| JAN 11 (THU) | JAN 17 (WED) | ) | ||||
| JAN 12 (FRI) | JAN 18 (THU) | ) |
REMINDERS:
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The ASC charges an Application Fee to cover the manhours spent in processing the application as it goes through several stages of review. THEREFORE, the application fee SHOULD be settled/paid REGARDLESS of the decision received for said application.
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Rejection/banning of future applications of a brand will be implemented by the ASC on the DAY AFTER the final deadline of the SOA, if it remains to be unsettled/ unpaid.
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Banning of a brand’s application is regardless of applicant (individual or company).
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Special screening and/or clearing applications of banned brands will be allowed PROVIDED the applications are paid via uploading of proof of payment (deposit slip or voucher) no later than 3PM. The ASC will release the special decisions ONLY after the applicant’s uploading of proof of payment AND its receipt by the ASC Finance Team.
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It is the responsibility of the applicant to settle all fees to be able to receive the decision on time, as prescribed. ASC will no longer be doing follow-up calls, texts, emails, or any other form of communication to the applicant.
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The ASC online system reads uploads real time. This means that any document uploaded beyond 11am and 3pm, as the case maybe, is based on when these are uploaded by the applicant.
The above Promissory Notes timeline and guidelines will be in strictly implemented starting on Monday, February 19 , 2024.
For your guidance and strict compliance.
