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grace period

   Also found in: Medical, Legal, Financial, Wikipedia 0.04 sec.
grace period
n.
1. A period in which a debt may be paid without accruing further interest or penalty.
2. A period in which an insurance policy is effective even though the premium is past due.


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? Mentioned in ? References in periodicals archive
 
LANCASTER -- Tickets will start being issued today from red-light cameras at two Lancaster intersections, after the end of a 30-day grace period during which only warnings went out.
RED-LIGHT TICKETS GET GREEN LIGHT INTERSECTION GRACE PERIOD NOW OVER by Daily News (Los Angeles, CA)
The country will have 15 years to pay off the loan, which carries a five-year grace period.
The World Bank by Latin Trade
According to Aziz, the repayment period is from 5 to 39 years, with a grace period of zero to 10 years.
Pakistan's loans exceed $6 billion by Al-Arian, Laila / Washington Report on Middle East Affairs
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