‘You give an inch and they want a mile’: Extended payment terms are still a problem for agencies and vendors

'You give an inch and they want a mile': Extended payment terms are still a problem for agencies and vendors


The long-simmering issue of agency payment windows has been brought back to a boil.

Last month, General Mills announced it was looking for a new creative agency. While agencies took issue with many facets of the RFP — ownership of creative ideas pitched, as well as no compensation for the pitch process, per an Adweek report — a payment window of 120 days was chief among them. “We seemed to have struck a nerve,” General Mills CMO said in a statement earlier in June.