In this paper, we study well-posedness for the following third-order in time equation with delay <disp-formula idoperators defined on a Banach space X with domains D(A) and D(B) such that t)is the state function taking values in X and u(t): (-, 0] X defined as u(t)() = u(t+) for < 0 belongs to an appropriate phase space where F and G are bounded linear operators. Using operator-valued Fourier multiplier techniques we provide optimal conditions for well-posedness of equation (0.1) in periodic Lebesgue-Bochner spaces Lp(T,X), periodic Besov spaces Bp,qs(T,X) and periodic Triebel-Lizorkin spaces Fp,qs(T,X). A novel application to an inverse problem is given.