ITSme Charter: Financial
Published on 06/05/2024
The ITSme Society was formed around our Positive E.F.E.C.T.S. charter – yes, we know we are missing an F! This charter was created to advance the environmental, financial, ethical, collaborative, training, and social standards of our agencies. The ITSme Society Agencies work to uphold the highest Financial standards possible.
At the ITSme Society agencies, our artists, contributors, and staff are not expected to enrich the business at the sake of their own. With this in mind, all deal structures with clients and contributors are clear and transparent. All remuneration involved in deals is previously agreed upon and shared in a way that is fair to all parties involved.
All illustrators and freelance stakeholders are given transparency of agreed upon credit terms, date of invoice, and date of money received, so they can track their agreed payment and when it is due to them.
Other agencies can use the positive cash flow, based on the fact that they do not need to pay their suppliers until their clients have paid, as a piggy bank, using money to cover business costs in tough times.
The Financial aspect of the ITSme Society Charter underlines that all agencies must maintain a positive balance sheet, so we do not use funds in this way. All ITSme Society agencies make sure our illustrators and freelance contributors are paid their agreed amount and in a timely manner.
We look forward to sharing more about our Positive E.F.E.C.T.S. charter with you in this new blog series.
The ITSme Society is a collective of top creative agencies that represent award-winning talent worldwide. The ITSme Society agencies represent illustrators and writers across 7 agencies: Advocate Art, Astound US Inc, Illo Agency, Artistique, Yeon, CWLA, and Collaborate.
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