Advertising Credit Supervision and Untrustworthy Punishment-World Credit Organization

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ICE8000 Advertising Credit Evaluation and Supervision Column
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Advertising Credit Supervision and Untrustworthy Punishment

1.In the ICE8000 advertising credit system, who is the main body of advertising credit supervision, and who is in the leading position in advertising credit supervision?

Answer: There are three subjects of advertising credit supervision: the first one is the advertiser’s stakeholders, that is, the audience of the advertising content, because only those who have an interest in the advertising content have the most say in whether the advertising content is true or not. The credit supervision of advertisers by related parties should also abide by the principles of good faith, moral bottom line, and social responsibility bottom line, otherwise it is also a breach of trust and will be punished accordingly. The second is ICE8000 credit agency. ICE8000 credit agency will conduct active and high-frequency supervision of advertising content in accordance with standards after charging credit supervision fees in accordance with the advertising credit evaluation and supervision service contract. The third is the World Credit Organization [WCO], which conducts passive supervision of advertising content, namely: faithfully recording various relevant credit evaluation information.

The stakeholder of an advertiser is in a dominant position in the supervision of advertising credit, which means that he has the right to abide by the principles of good faith, the bottom line of morality, and the bottom line of social responsibility to make public complaints or public exposure of untrustworthy advertisers. These powers are not restricted by others or Proxy on behalf of the restraint.

Third, what punishments will advertisers who have passed the ICE8000 advertising credit evaluation be liable for dishonesty when their advertisements are dishonest?

Answer: (1) Corresponding legal liability, namely: legal punishment stipulated by relevant applicable laws.

(2) Corresponding credit responsibilities, namely: bear credit penalties such as internal complaints, public complaints, credit warnings, internal exposures, public exposures, and joint exposures.

(3) Corresponding industry self-discipline responsibilities, namely: self-discipline punishments such as business ban, public criticism, cancellation of credit card, failure of annual inspection, and fines stipulated in the relevant ICE8000 standards.

(4) If the breach of contract causes losses (including material losses and moral losses) to others, it shall be liable for compensation. If the breach of contract constitutes a malicious act of dishonesty, punitive compensation should be paid to the victim in accordance with international practice and prevailing legal principles.

The above content is excerpted from: "Building an Integrity Unit——Risk Control and Integrity Management" (by Fang Bangjian)

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