Pitch holders may offer cash prizes or awards to the best idea or ideas submitted to their pitch. They are under no obligation to do so. However, any prize advertised in the brief must be paid, regardless of whether the pitch holder chooses to license the winning or any other idea. The prize amount will be deducted from the licence fee in the event of licence.
Pitch holders may specify in the brief that any cash prize will also cover the fee for licensing the idea. They may also set a price at which they will license the idea, in addition to any cash prize offered. Pitch holders may license any of the ideas submitted in response to their pitch, not just the winning entry; in this case the licence fee for any additional ideas shall comprise the specified licence fee plus the award sum.
The author of the winning idea receives the full cash prize amount.
Prizes must be awarded within 14 days of the entry of the ideas into the pitch holder's portfolio.
