The company has approached a number of agencies with an RFI, with initial meetings due to take place before the end of the month. ISBA is understood to be handling the process.
Kindred, the agency formed by the merger of Mustoes and Geronimo Communications last year, is the incumbent on the account, having won the business after a pitch in November 2008 against its previous agency, Farm.
The successful agency will handle the advertising for all of the Courage brands, which include Courage Best, Courage Light Ale, Courage Dark Mild and Courage Directors.
The brand's most well-known advertising was the 80s "Gertcha" campaign featuring Chas & Dave.
Last year, it also hit the headlines after the Advertising Standards Authority banned one of its posters for implying that drinking Courage could boost confidence.
The ad showed a man sitting on a sofa and looking nervously at his girlfriend, who is wearing a figure-hugging dress with the label still attached. A pint of beer was accompanied by the strapline: "Take Courage my friend."