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 initialgrace period.
The agreement specifies a grace period of 15 working days.
grace period in American English
noun
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 charges or before the loan or policy is canceled
Examples of 'grace period' in a sentence
grace period
Long-term loans are commonly repaid in a steady, regular way, perhaps after an initial grace period.
Charles A. D'Ambrosio & Stewart D. Hodges & Richard Brealey & Stewart Myers Principles of Corporate Finance (1991)
If it does decide to do so, it is expected to give 888 a short grace period to enhance its own offer.