Meaning Of Grace Period

Grace period definition is a period of time beyond a due date during which a financial obligation may be met without penalty or cancellation.

Meaning of grace period. In insurance law a period beyond the due date of a premium usually thirty or thirty one days during which the insurance is continued in force and during which the payment may be made to keep the policy in good standing. A grace period is the number of days between the date a credit card issuer calculates your new balance and the date your payment is due. Grace period synonyms grace period pronunciation grace period translation english dictionary definition of grace period.

Extra time you are given to pay money you owe without losing something or paying an additional. During this period no. Meaning pronunciation translations and examples.

A period of time allowed before something has to be finished or before a debt or loan has. A grace period is the provision in most loan and insurance contracts that allows payment to be received for a certain period of time after the actual due date. How to use grace period in a sentence.

The grace period for payment of the premium does not provide free insurance or operate to continue the.