grace period

grace period


: an amount of extra time that someone is given to pay a bill, finish a project, etc.

Full Definition of GRACE PERIOD

:  a period of time beyond a due date during which a financial obligation may be met without penalty or cancellation

Examples of GRACE PERIOD

  1. The terms of the loan allow for a ten-day grace period.

First Known Use of GRACE PERIOD



Next Word in the Dictionary: Grace's warbler
Previous Word in the Dictionary: grace note
All Words Near: grace period

Seen & Heard

What made you want to look up grace period? Please tell us where you read or heard it (including the quote, if possible).