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

He said experts had since said the transition from child to adult hospitals should be done more gradually with a bigger grace period, rather than an immediate move upon turning 18.

From BBC ● Jul. 18, 2026

Ahn called the June inflation data a “one month grace period, not a get out of a jail card.”

From MarketWatch ● Jul. 17, 2026

In 2023 it stretched the grace period to two years.

From The Wall Street Journal ● Jul. 13, 2026

And while business manager visa holders have a three-year grace period to meet the new conditions, some thriving businesses -- including many popular eateries in Okubo -- fear they won't manage.

From Barron's ● Jul. 1, 2026

The headmaster read through Caitlin's letter before agreeing to a month-long grace period: Things had gotten so bad that even the schools had to be lenient.

From "I Will Always Write Back" by Caitlin Alifirenka and Martin Ganda