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grace period
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.
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Example Sentences
Instead, the clock started on a grace period for its government owners to buy back the domain before it was sold to someone else.
However, there was a grace period during which videos would be removed without additional penalty to the account.
YouTube says that grace period was supposed to expire on January 21, after Inauguration Day.
They declined to disturb decisions that allow Pennsylvania officials to receive ballots cast by Election Day and received within three days, and a ruling by North Carolina’s elections board that set a grace period of nine days.
Overall FHA delinquencies have almost doubled in the past year, yet the foreclosures have barely budged because of the grace periods granted by the lenders.
“It just crept up on me that the grace period is over,” Mulaney says about his subway-chase revelation that he was getting older.
Charney has a 30-day grace period before he is officially terminated.
Politicians are spending the last several weeks of this court-ordered grace period trying to come up with a new solution.
Glitches provide a grace period for you to strengthen statements, missions, arguments and other words-worthy endeavors.
Will she stay on for a grace period and then be reassigned as ambassador to some neutral country like Switzerland or Luxembourg?
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More About Grace Period
What is a grace period?
A grace period is a length of time after which something is due but no penalties are administered, such as with payment of a bill.
Grace period is most often used to describe the time after a payment is due and before a late fee is charged or the service is canceled. Credit card companies and insurance agencies often have a short grace period for late payments.
Grace periods are also sometimes used for application deadlines, such as with school applications or applications for aid. In this sense, the grace period would be a short time after the application deadline, during which you could still submit your application.
Another common use of grace period is in regards to new laws and policies. When a new law passes, for example, there might be a brief time during which you will not be penalized for not following the new law. Such a grace period may be given to give people time to adjust, to give the government agency time to set up systems for enforcing the law, or for another reason the lawmakers thought might be helpful.
Example: The company gave everyone a two-week grace period during which they could remove social media posts that broke company policy without being reported to HR.
Where does grace period come from?
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What are some words that share a root or word element with grace period?
What are some words that often get used in discussing grace period?
How is grace period used in real life?
Grace period is most often used in discussions of payment and bills, but it can be used generally in a variety of situations in which something is owed or due.
avocados really be out here giving you a 30 minute grace period
— Bobbiana (@thatonequeen) August 5, 2020
The 2018 Super Bowl grace period ended tonight.
— Kevin Negandhi (@KevinNegandhi) October 21, 2019
There’s still two weeks left to apply if you were impacted by Hurricane Ida and are not eligible for FEMA assistance! The application grace period for the Ida Relief Fund for Excluded New Yorkers ends close of business on April 29, 2022.
Visit: https://t.co/h6HHHKHBYx pic.twitter.com/JqHJEMx7wR
— NYS New Americans (@NYSNewAmericans) April 14, 2022
Try using grace period!
True or False?
If your landlord gives you extra time to pay your rent, that is a grace period.
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