- A time stated in a contract during which a late payment or performance may be made without penalty. If, after the grace period ends, there has still been no payment or performance, the contract is suspended.
Business law dictionary. 2015.
Look at other dictionaries:
grace period — grace pe·ri·od n: a period of time beyond a scheduled date during which a required action (as payment of an obligation) may be taken without incurring the ordinarily resulting adverse consequences (as penalty or cancellation): as a: a period of… … Law dictionary
grace\ period — • grace period • period of grace noun the time or extra time allowed in which to do something. Most insurance companies have a grace period of one month for payments. The teacher gave the class a week s period of grace to finish workbooks … Словарь американских идиом
grace period — grace ,period noun count a period of time that someone allows you to have before you must pay money you owe: All invoices are issued with the usual 10 day grace period … Usage of the words and phrases in modern English
grace period — Period of time until a bill becomes due. ► “While it is true that distributions from individual retirement accounts (IRA) are not taxed if they are ROLLED OVER to new IRAs within 60 days of receipt, this tax free grace period, which allows an… … American business jargon
grace period — A time period during which a borrower can pay the full balance of credit due and not incur any finance charges (BANKRUPTCY DICTIONARY OF TERMS)/. United Glossary of Bankruptcy Terms 2012 … Glossary of Bankruptcy
grace period — n. extra time allowed, as for payment of a note, insurance premium, etc. after it is due … English World dictionary
Grace period — A grace period is a period of time past the deadline for fulfilling an obligation during which a penalty that would be imposed for being late is waived. Grace periods, which can range from a number of minutes to a number of days or longer,… … Wikipedia
grace period — noun : a period of 30 days or one month during which premiums on insurance policies may be paid without penalty * * * a period of time after a payment becomes due, as of a loan or life insurance premium, before one is subject to penalties or late … Useful english dictionary
Grace Period — Infobox Album | Name = Grace Period Type = Album Artist = ApologetiX Released = Recorded = Fall Winter of 2001 Genre = Christian/Parody/Comedy Length = 1:08:45 Label = Parodudes Producer = Karl Messner Reviews = Last album = Keep the Change… … Wikipedia
Grace Period — A provision in most loan and insurance contracts which allows payment to be received for a certain period of time after the actual due date. During this period no late fees will be charged, and the late payment will not result in default or… … Investment dictionary
grace period — UK / US noun [countable] Word forms grace period : singular grace period plural grace periods a period of time that someone allows you to have before you must pay money that you owe All invoices are issued with the usual 10 day grace period … English dictionary