grace period

American  

noun

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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Example Sentences

Once the cameras are operational, drivers will have a 60-day grace period before they’re fined for going 11 mph or more over the posted speed limit.

From Los Angeles Times • Mar. 30, 2026

For returning policyholders, there’s a three-month grace period to pay the first month’s premium, Montz noted.

From MarketWatch • Mar. 20, 2026

The status gives firms a grace period in which they are exempt from corporation tax, according to the paper, and instead issue a portion of the company's earnings to shareholders who are taxed individually.

From BBC • Mar. 15, 2026

“I believe that this four-day grace period is reasonable, and I think for many reasons it makes a lot of sense,” DeWine said.

From Salon • Jan. 12, 2026

But I needed time, and quiet, and a few weeks’ grace period in the States if I was to do anything of the sort.

From "The Secret History" by Donna Tartt