CNBC Africa T&Cs – West Africa


Advertising: Terms and Conditions West Africa


Terms & Conditions

1)     Definitions

  1. Commencement means the commencement indicated in the agreement or date of signature, whichever is later in time.
  2. CNBC Africa means Africa Business News (Nigeria) Ltd, a company with Registration Number RC 679672 registered in accordance with the Company Laws of Nigeria, with its principal place of business at Plot 1676 Oladele, Olashore Street, Victoria Island, Lagos, Nigeria.
  3. Client means the company, agency, entity or organization described in the Agreement attached hereto.
  4. Branded means all stings, billboards, logos and marks of the client.

2)     Interpretation

a. Interpretation


i. Any gender shall include the other genders

ii. A natural person shall include a juristic person and vise versa

iii. The singular shall include the plural and vise versa

b. Headings


c. Jurisdiction & Law

The Agreement shall be construed in accordance with and governed by the laws of Nigeria and the English language version shall prevail. The Courts at Lagos, Nigeria shall have exclusive jurisdiction over matter connected herewith.

d. Conflict between Numerals and words


e. Schedules and Annexures


f. Days



g. Parties

Any reference to the Client or CNBC Africa shall include its representatives, their successors in title, their respective agents, employees, servants, contractors and workmen.

3)     General

  1. All content produced by CNBC Africa under this Agreement, whether broadcast or not, will remain the property of CNBC Africa.
  2. CNBC Africa, shall at all times, retain editorial control of all material.
  4. CNBC Africa reserves the right to refuse to broadcast any advertisement, or portion thereof, that does not comply with the law of the country including the applicable Advertising Standards Authority codes and directives.
  5. The Client is responsible to provide the promotional material including all logos and artwork no less than 14 (fourteen) days prior to broadcast date, failing which the broadcast will be effected and alternative dates will be given, dates which CNBC Africa will deem suitable.
  6. If commercials/advertisements are received from Client which are less than 30” in length, the number of spots shall be amended as follows:

(i)     Total airtime as per contract x percentage as per table below ÷ duration of commercial/advertisement received

(ii)    Duration:             25”         20”          15”          10”           5”

%                        90%        80%        70%        60%        50%

  1. If commercials/advertisements are received which are more than 30” in length but less than 120” the number of spots shall be amended on a pro-rata basis.
  2. Any and all complaints by the Client as regards any aspects of advertisements broadcast on CNBC Africa must be lodged in writing with CNBC Africa within 7 (seven) days of the first broadcast and, failing such written complaint within such period, the Client shall be deemed to be satisfied with the broadcast of such advertisement in every respect.
  3. CNBC Africa reserves its right to interrupt scheduled programming from time to time as a result of important annual events, other breaking news as well as public holidays.
  4. The Client shall ensure that all CNBC Africa logos and marks are protected at all times. For purposes of clarity, the Client may not distribute or cause to be distributed any content or material from CNBC Africa Channel over the Internet or mobile telephony or distribute or cause to distribute to any hand held device or computer.
  5. CNBC Africa at any time may at its discretion and without incurring any liability whatsoever to the client:-
  6. Pull off air the broadcasting material if so required by the ASA or if the material contained is unsuitable and violates the ASA’s Code of Conduct or the ASA’s prior rulings or the ASA’s directives.
  7. Restrict any repeat broadcast of the same material and provide reasons for such restrictions.

4)     Payment Terms

  1. The cost for the services is mentioned in the Agreement and is agreed between the Parties, the costs shall be paid to CNBC Africa in the manner as set out herein below.
  2. Payment, as defined below shall be made upfront & in full upon invoice or in accordance with the timeline set out in the Agreement between the Parties.
  6. All queries on statements shall be addressed to the accounting department of CNBC Africa within three days of receipt thereof, failing which it will be deemed to be correct, due and payable.
  7. In the event of CNBC Africa having to instruct it’s Attorneys in respect of the accounts outstanding, the Client shall be liable for all legal costs incurred on an Attorney and own client scale
  8. All payments in respect of the above shall be made directly, via Electronic Funds Transfer (EFT), into the account of CNBC Africa, details of which are mentioned in the Agreement between the Parties.

5)     Material and Property Liability

  1. CNBC Africa shall not be held liable for any loss, damage or delay in delivery of recordings, scripts or other material that is supplied by the client except where CNBC Africa has signed for receipt of same.
  2. Neither Party shall be liable for any loss suffered by the other Party arising out of delay or in prevention of performance of the Party’s obligations due to the occurrence of Force Majeure event. The Party whose performance is delayed or prevented shall be entitled to a reasonable extension not exceeding 30 (thirty) days to perform, provided that such Party promptly notifies the other Party after becoming aware of the act giving rise to the delay or prevention of performance. If performance is or will be delayed and or prevented for more than 30 (thirty) days then the Parties shall endeavor in good faith to agree on an alternative basis for achieving the objects of this Agreement. If the Parties are unable to reach such an agreement, then either Party may terminate this Agreement upon written notice. If the Parties are unable to reach such an agreement, then either Party may terminate this Agreement upon written notice, and the parties shall make such financial adjustment between them as may be equitable. Client acknowledges that in case of Force Majeure, CNBC Africa will be unable to refund the advance which will be used for promotional purposes but will give airtime value to Client should such eventuality occur.
  3. In the event that CNBC Africa fails to flight an advertisement on the agreed date due to 5(b) above, CNBC Africa shall endeavor to compensate the Client, such compensation shall be given in airtime and no monetary credit shall be passed.
  4. Should CNBC Africa fail to flight any material in terms of this Agreement for reasons necessitated out of airing content that deals with special announcements, breaking news, special reports or for other reasons within its reasonable control, CNBC Africa shall compensate the Client accordingly, and such compensation shall be given in airtime and no monetary credit shall be passed.
  5. CNBC Africa shall offer to broadcast the compensation mentioned above during some other suitable period. Should that period not be acceptable to the Client, the Client shall have no further claims against CNBC Africa for any expenses or damages incurred as a result thereof.

6)     Warranties and indemnities

  1. The Client warrants that:

(i)          It is responsible for obtaining and paying for all necessary licenses and consents for the broadcast of any copyright material contained, or the inclusion of or reference to any person in the relevant material.

(ii)         No material supplied by the Client will breach the copyright or other rights of or be defamatory of any third party.

(iii)        All material provided to CNBC Africa is compliant with the Advertising Standards Authority and with any other relevant legislation.

  1. The Client is precluded from holding CNBC Africa and its staff liable/ responsible for any claims of whatever nature arising from any breach of the above warranties in consequence of the use, recording or broadcasting of any advertisement copy or matter supplied by and broadcast for the client.

7)     Variation and Cancellation

  2. It is recorded that there exists no collateral and/or other agreements and that this is the sole and exclusive agreement entered into by and between the Parties and no Party shall be entitled to seek rectification of any of the terms hereof.

8)     Termination

  1. This Agreement shall terminate at the end of the term agreed between the Parties. This Agreement shall be renewed beyond the Term in writing on mutually agreed terms and conditions by the Parties.
  2. Either Party may terminate this Agreement at any time by giving notice in writing to the other Party if:


(ii)     The other Party has committed a material breach of an obligation to pay money hereunder which the other Party has not remedied within 30 (thirty) days of receipt of written notice to do so; or







  1. This Agreement shall be terminated by either Party giving 30 (thirty) days in writing before the expiration of the Term. The Parties are to perform their obligation under the Agreement within this period of notice.

9)     Domicilium Citandi Et Executandi


COMPANY:       Plot 1676 Oladele, Olashore Street, Victoria Island, Lagos, Nigeria.

CLIENT:            As indicated in the Agreement

  3. Any notice to a party which is:-



(iii)    Transmitted by telefax or email to its chosen telefax number or email address chosen (if any) stipulated in clause 5 (a) above shall be deemed to have been received on the date of transmission (unless the contrary is proved).

10)  Dispute Resolution

  1. Settlement


  1. Arbitration


(ii)     Arbitration proceedings shall be conducted in the English Language and in accordance with the provisions with the rules for Arbitration of the Regional Centre for International Commercial Arbitration, Lagos.

(iii)    Arbitration proceedings shall be held in Lagos, Nigeria, and the arbitrator will be an Attorney or Advocate who has practiced as such for a period of at least 15 (fifteen) years and who has a specialized knowledge in international commercial litigation or international corporate or commercial matters.


(v)     Award given by the arbitrator must be in writing and delivered to both Parties within 4 (four) months of the hearing and the decisions of the Award given by the arbitrator must be in writing and delivered to both parties within 4 (four) months of the hearing and the decisions of the arbitrator shall be final and binding on the Parties, shall be carried into immediate effect and, if necessary, be made an order of any court of competent jurisdiction.

(vi)    Any award of a monetary nature must be expressed or duly converted to Nigerian currency namely the Naira.


11)  Entire Agreement


12)   Limitation of Liability

  2. If the Client incurs any expenses, damages, losses or liabilities whatsoever (including, without limitation, legal fees) in connection with or arising from the provision of services by CNBC Africa, whether as a consequence of negligence or otherwise, CNBC Africa’s liability to the Client as a result is the total aggregate liability to the Client for an event or series of connected events shall in not exceed  in any circumstance the maximum amounts paid by the Client or the value of the services provided by the Client to CNBC Africa in this Agreement.
  3. No claim, series of claims or connected claims by either Party shall, in total, exceed an amount equal to the total charges payable by the Client to CNBC Africa in terms of this Agreement.

13)  Warranty of Authority


14)  Miscellaneous


15)  Severability

If for any reason any provision of this Agreement is held invalid, all other provisions of this Agreement shall remain in effect. If this Agreement is held invalid or cannot be enforced then to the full extent permitted by law any prior agreement between the CNBC Africa and the Client shall be deemed reinstated as if the agreement had not been entered into.
