Fonterra bill payment extension criticism grows

Fonterra's method of extending payment times for some contractors to up to 90 days has been called "appalling" and "no way to do business".
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«The largest company in New Zealand should treat its clients with respect and follow standard commercial practices,» Waikato University economics professor Frank Scrimgeour​ told the Future Farms conference in Palmerston North on Wednesday.
«I say this with reluctance as I have pursued a policy over many years of not making negative comments about Fonterra, but on this one I will speak out and say I think it’s appalling,» he said.
Small suppliers and contractors had contacted him saying they had received letters from Fonterra about the changes.
 
Source: Stuff

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