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Copyright © International Chamber of Commerce (ICC). All rights reserved. ( Source of the document: ICC Digital Library )
The advertising agency that represents the US' National Rifle Association (NRA) says the non-profit organisation that lobbies for gun rights must post a US$3 million letter of credit (L/C) within days.
The NRA wants to ditch its longstanding advertising agency, Ackerman McQueen, but the split is acrimonious and several bitter disputes have erupted between the two parties.
US$1.7 million outstanding
If the NRA fails to post the L/C the advertising agency has asked for, Ackerman McQueen says it could shut down television advertisements and other promotional services within days.
The advertising agency claimed in a court filing that the NRA owes it almost US$1.7 million for promotional work.
Bitter battles
Legal battles between the two parties commenced in April when the NRA sued the advertising agency.
The association claimed it could not get obtain details about the agency's multimillion-dollar contract with Oliver North, who also served as the NRA's unpaid president, a post he has now resigned from as part of this dispute.
Contradictory claim
But the filing the agency has submitted directly contradicts the NRA's claims of ignorance about North's employment terms.
Ackerman McQueen has been retained by the NRA for nearly forty years, managing the association's advertising campaigns, developing its web and media presence, and creating its national image, according to agency's filing.
This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.