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Bookmark or Share- Grace Period Definition for Borrowers, How It Works, ExamplesA grace period is a set length of time after the due date during which payment may be made without penalty. A grace period, typically of 15 days, is commonly...
- Grace period - WikipediaA grace period is a period immediately after the deadline for an obligation during which a late fee, or other action that would have been taken as a result of failing to meet the deadline, is waived provided that the obligation is satisfied during the grace period.
- GRACE PERIOD definition and meaning | Collins English Dictionary(ɡreɪs ˈpɪərɪəd ) noun. law, finance. a period of time allowed before something has to be finished or before a debt or loan has to be repaid. Long-term loans are commonly repaid in a steady, regular way, perhaps after an initial grace period. The agreement specifies a grace period of 15 working days. Collins English Dictionary.
- What Is a Grace Period? - The BalanceGrace period refers to the period of time when payments can be received after the actual payment due date or deadline, without incurring penalties. There are different types of grace periods, including those for mortgages, car loans, credit cards, student loans, and health insurance.
- GRACE PERIOD definition | Cambridge English Dictionarynoun [ C ] us / ˈɡreɪs ˌpɪər·i·əd / Add to word list. extra time you are given to pay money you owe without losing something or paying an additional amount: You have a 10-day grace period in which to pay your insurance premium. (Definition of grace period from the Cambridge Academic Content Dictionary © Cambridge University Press)
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