The Media Association of Jamaica's (MAJ) tightened credit facility to advertising agencies goes into effect on Thursday.

The Media Association will now insist on full compliance with established credit terms.

Advertising agencies currently get up to 30 days to settle their bills after they are invoiced.

However, there have been instances where bills are paid up to 60-days after they are due.

Under the new regime, invoices are due and payable on the 5th of the month following the month in which billing is made.

The Advertising Agencies Association of Jamaica (AAAJ) has reportedly agreed to work towards the deadline.

The MAJ recently stated that the new arrangement became necessary due to the severe economic pressure, the decline in the value of the dollar and thin operating margins for media houses.