grace period

Definition
The additional period of time a lender or insurance policy issuer provides for a borrower to make payment on a debt without penalty.




grace period is ...
... part of the
Insurance and Lending & Credit subjects.


Related Terms

cure period -
forbearance -
cash advance -  More
Perkins loan, student loan, payment shock, noncontestability clause


grace period appears in the definitions of these other terms on BusinessDictionary.com

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