What is an insertion order in advertising, and how does it relate to a deal?
Part of Curated deals and PMPs
The short answer
An insertion order (IO) is the signed agreement in which a publisher commits to run an advertiser's ads under stated terms: deliverables, price, maximum spend, flight dates and who serves or tracks the ads. In programmatic buying the IO, or a platform proposal that replaces it, sets the terms a deal ID then carries into the auction.
Key takeaways
- The IAB and 4A's standard terms define an IO as a mutually agreed insertion order that incorporates those terms, under which the publisher delivers ads on named sites.
- The template lists five core IO details: deliverables, prices, maximum spend, start and end dates, and the third party ad server.
- In Display & Video 360 an insertion order is a budget container for line items, which is a different thing from the signed contract.
- For guaranteed deliverables, the template expects the publisher to warn of likely underdelivery and to agree a makegood or a credit.
- A programmatic guaranteed deal can move the IO's terms into a platform proposal, but the same terms still have to be agreed.
What is an insertion order in digital advertising?
Definition
- Insertion order (IO)
- A written order, agreed by the buyer and the publisher, that states what advertising the publisher will run, on which properties, when, at what price and up to what amount.
The long standing industry template is the 4A's and IAB Standard Terms and Conditions for Internet Advertising for Media Buys One Year or Less, Version 3.0 (opens in a new tab). It defines an IO as a mutually agreed insertion order that incorporates those terms, under which the media company will deliver ads on sites for the benefit of the agency or advertiser. The terms describe themselves as a standard for doing business that, when incorporated into an IO, represents the parties' common understanding. They also say what they do not cover: the relationship between a publisher and a network, and direct advertiser buys with publishers.
IAB's March 15, 2023 announcement (opens in a new tab) said the standard terms were first developed in May 2001 and updated in 2010 and 2018, and that the 4A's, IAB and ANA would launch a joint task force of agencies, marketers, publishers and ad tech companies to revise them. The revised terms that followed were published by IAB. Its December 12, 2025 post (opens in a new tab) announced IAB General Terms and Conditions, a universal core with addendums for direct buys, programmatic, platform and service provider relationships, and named the direct buy addendum as the next module. That post names neither the 4A's nor the ANA, and it says the Version 3.0 direct buy terms had no comprehensive update since 2010, which differs from the 2023 announcement's mention of 2018. IAB lists the newer documents on its guidelines pages behind a free account sign in. The Version 3.0 text quoted on this page is the last full public copy IAB hosts.
What fields does an insertion order contain?
Section I of the standard terms lists the details each IO specifies, as applicable: the types and amounts of deliverables, the prices for them, the maximum amount of money to be spent, the start and end dates of the campaign, and the identity and contact information of any third party ad server. It adds that an IO may also include reporting requirements, special delivery scheduling or placement requirements, and specifications on ownership of data collected.
| Field | Source in the standards | What it controls |
|---|---|---|
| Parties | The agency and media company listed on the IO (4A's and IAB terms) | Who is bound, and who is billed |
| Sites | Media company properties and network properties specified on the IO | Where the ads may run |
| Deliverables | Type and amount, such as CPM, CPC, CPL or CPA deliverables | What counts as delivery |
| Price | The price for each deliverable; in OpenDirect a rate and a rate type | What each unit costs |
| Maximum spend | The maximum amount of money to be spent under the IO | The ceiling on billing |
| Flight dates | Start and end dates of the campaign | When delivery may happen |
| Ad serving | Identity and contact of any third party ad server | Whose counts may govern invoices |
| Currency and billing | OpenDirect order: currency, budget and preferred billing method | How invoices are issued |
| Extra terms | Reporting, scheduling, placement and data ownership requirements | Anything the standard terms leave open |
IAB Tech Lab's OpenDirect specification (opens in a new tab), which standardizes how guaranteed inventory is ordered by API, models the same document as an Order with Lines. Its Order holds the currency, an estimated budget it calls directional rather than a limit on spend, a preferred billing method and an order expiry date after which the publisher stops holding inventory. Each Line holds a product, start and end dates, a rate type (CPM, CPMV, CPC, CPD or flat rate), a rate and a quantity. The projected cost comes from quantity, rate and targeting, while the amount billed is based on the actual number of impressions.
How does an insertion order relate to a programmatic deal?
The phrase insertion order now means three different things, and mixing them up causes real errors. One is the signed contract. Another is the order object in a publisher's ad server, which holds the line items that deliver the contract. The third is an object in a buying platform. Display & Video 360's insertion order help (opens in a new tab) says an insertion order contains a set of line items related to the same campaign; those line items share one budget and serve only within its dates.
| Meaning | Who owns it | What it does | Link to the deal |
|---|---|---|---|
| Signed IO (contract) | Agency or advertiser and the publisher | States deliverables, price, spend ceiling, dates and terms | Sets the terms a deal must reflect |
| Order in the publisher's ad server | The publisher's ad operations team | Holds the line items that serve the booked campaign | In Google Ad Manager, created from an accepted programmatic proposal |
| Insertion order in a buying platform | The buyer's trading team | Groups line items under one budget, flight and pacing | Its line items target the deal ID |
In programmatic guaranteed buying, the paper IO's terms can move into the platforms. Google Ad Manager's About proposals page (opens in a new tab) calls programmatic proposals similar to orders, with extra fields for negotiation such as billing terms, which it sets to Actuals, the buyer, contacts and terms and conditions. When the buyer accepts, Ad Manager creates the order and line items for delivery. Whether a separate signed IO is also used is a matter for the parties; the terms in the proposal and in any IO must say the same thing.
Keep the IO and the deal in step
- Write the IO terms first. Agree deliverables, price, currency, maximum spend and dates before anyone creates the deal.
- Copy the terms into the deal, not around it. The deal's price, dates, formats and seat should match the IO line for line.
- Note the deal ID on the IO. The standard terms let invoices carry the IO number and any reference the IO requires, so the deal ID can link the two.
- Mirror the budget in the buying platform. Set the platform insertion order's budget and flight no wider than the signed IO allows.
- Record every change on both sides. The standard terms require revisions in writing, acknowledged by the other party.
Who signs an insertion order?
In the standard terms the parties are the agency and the media company, with the advertiser as the agency's disclosed principal. The agency signs the IO and the media company accepts it. Section I says the media company should make commercially reasonable efforts to tell the agency within two business days if the inventory is not available. Acceptance is deemed the earlier of written approval of the IO by both, which can be paper, fax or email, or the display of the first ad impression, unless the IO says otherwise. Changes to an IO bind only once both approve them in writing.
Payment liability follows the same structure. Section III, which the IAB and 4A's education guide (opens in a new tab) calls the sequential liability clause, says that unless the agency states otherwise on the IO, the media company holds the agency liable only to the extent the advertiser's funds have cleared to the agency, and holds the advertiser solely liable for sums not cleared. The guide notes that, because of this clause, it is important for the media company to have written confirmation of the agency and advertiser relationship. A brand buying directly with a publisher is outside the template's stated scope.
What happens when delivery falls short of an insertion order?
Section VI of the standard terms covers makegoods. The media company monitors delivery and notifies the agency as soon as possible, and no later than 14 days before the IO end date unless the campaign is shorter than 14 days, if it believes underdelivery is likely. When actual deliverables fall below the guaranteed levels on the IO, or an ad is omitted, both sides use commercially reasonable efforts to agree a makegood flight. If none can be agreed, the agency may take a credit for the underdelivered portion, and a prepaid campaign may take a refund. No makegood may extend an ad beyond the IO period without the agency's prior written consent.
| Situation | What the template says |
|---|---|
| Likely underdelivery | Publisher notifies the agency, no later than 14 days before the IO end date for campaigns of 14 days or more |
| Actual underdelivery of guaranteed deliverables | Both sides try to agree a makegood flight; otherwise the agency may take a credit for the underdelivered portion |
| CPC, CPL or CPA deliverables | Guaranteed delivery, even delivery and makegoods are not available |
| Overdelivery with a third party ad server | No more than 10 percent bonus above the IO without the agency's written consent, and no charge above the guaranteed or capped level |
| Counts that disagree | A controlling measurement is set by rule; if the gap exceeds 10 percent and the controlling count is lower, the parties attempt a reconciliation |
| Cancellation without cause, guaranteed deliverables | 14 days' prior written notice without penalty, unless the IO is marked non-cancelable |
| Cancellation, non-guaranteed deliverables | 7 days' prior written notice |
| Cancellation, flat fee or fixed placement | 30 days' prior written notice |
Programmatic deals put the same question to the platforms. A guaranteed deal marked guar 1 in OpenRTB 2.6 (opens in a new tab) obliges the bidder to bid, but delivery can still fall short when the buyer's line item cannot serve. The programmatic guaranteed guide covers how commitments and renegotiation work there. Non-guaranteed deals, such as preferred deals and private auctions, carry no volume promise at all, so an IO for them can cap spend rather than guarantee delivery.
What does an insertion order look like on a real campaign?
Fictional example
A Montreal performing arts festival books a bilingual campaign
A fictional Montreal performing arts festival wants display and video beside arts, culture and city event coverage in Quebec, in French and English, during the six weeks before opening night. Its agency agrees a guaranteed CPM buy with a Quebec culture publisher and a preferred deal with a national news site's arts section.
The agency's IO with the culture publisher lists the agency and publisher as parties, the festival as advertiser, the publisher's French and English sites, a CPM deliverable with its impression quantity, a CAD price, a maximum spend, the flight dates and the agency's third party ad server. A special term asks for the French creative on the French site only.
The publisher creates a programmatic guaranteed deal from the IO and sends the deal ID, which the agency writes on the IO. Three weeks before the end date the publisher warns that the English site is behind, and the two agree a makegood inside the flight rather than after opening night.
What does PlacementGraph add before an insertion order is written?
Frequently asked questions
Is an insertion order the same as a media plan?
No. A media plan sets out the whole campaign across publishers and channels. An insertion order is the agreement with one publisher for one part of that plan, with deliverables, price, dates and a spending ceiling. A plan can produce several IOs, or several deals and proposals, once it is approved.
Can an insertion order be changed after it is signed?
Under the 4A's and IAB standard terms, yes, but only in writing. Revisions to an accepted IO are made in writing and acknowledged by the other party, and changes to an originally submitted IO bind only once both the agency and the media company approve them in writing. Programmatic proposals have their own renegotiation rules in each platform.
Does every programmatic deal need an insertion order?
Not as a separate paper document. Programmatic guaranteed deals can be agreed as proposals inside the platforms, which carry billing terms, contacts and terms and conditions. Agencies and publishers can also work under a signed IO or a master agreement. Open auction buying needs no IO with the publisher, because there is no direct agreement.
What is a makegood?
A makegood is extra delivery the publisher runs to cover a shortfall against what the IO guaranteed. The 4A's and IAB terms ask both sides to agree the conditions of a makegood flight, and if they cannot, let the agency take a credit for the underdelivered portion instead. A makegood cannot run beyond the IO period without the agency's prior written consent.
Sources
- Standard Terms and Conditions for Internet Advertising for Media Buys One Year or Less, Version 3.0 (opens in a new tab)4A's and IAB
- Education Guide to the Standard Terms and Conditions Version 3.0 (opens in a new tab)4A's and IAB, February 2010
- Ad Industry Launches Effort to Revise New Standard Terms and Conditions for Digital Advertising (opens in a new tab)IAB, March 15, 2023
- OpenDirect specification (v2.1) (opens in a new tab)IAB Tech Lab, OpenDirect repository
- Create an insertion order (opens in a new tab)Display & Video 360 Help
- About proposals (opens in a new tab)Google Ad Manager Help
- OpenRTB 2.6 specification (opens in a new tab)IAB Tech Lab, OpenRTB repository
- IAB Unites the Industry with New Standard Terms (opens in a new tab)IAB, December 12, 2025
Researched and written by PlacementGraph Research. Read how we research, source and update these pages. Corrections: diana@placementgraph.com.