grace period

American  

noun

grace periods plural

1. 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.

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Other Word Forms

Noun Inflected Forms

• grace periods
  plural

Example Sentences

See Examples For:

grace period

Under the new rules, foreign students will also now have 30 days to pack up and leave after graduation or change to a different visa category - down from the previous 60-day grace period.

From BBC ● Jul. 16, 2026

The Treasury allowed for a grace period until July 17 for transactions already authorized under the license.

From The Wall Street Journal ● Jul. 7, 2026

Indian restaurant owner Manish Kumar, who has lived in Japan for three decades, has already been told his business manager visa won't be renewed, in spite of the grace period.

From Barron's ● Jul. 1, 2026

The sole exception could be Google, which has the option to nix its deal after a one-month grace period if SpaceX can’t hold up its end of the bargain by the end of September.

From MarketWatch ● Jun. 27, 2026

“Oh no. We don’t keep secrets on this ship. But perhaps Lieutenant Reynolds will give you a grace period... assuming you stay motivated.”

From "Ship Breaker" by Paolo Bacigalupi