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grace period

   Also found in: Dictionary/thesaurus, Medical, Legal, Wikipedia 0.01 sec.
Grace period
The time period stipulated in most loan contracts and insurance policies during which a late payment will not result in default or cancellation.
grace period
The period during which the issuer of a bond is not required to make interest payments. For example, a bond issued this year might only start paying interest five years from now. Bonds with grace periods are sometimes issued during a corporate restructuring.
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LANCASTER -- Tickets will start being issued today from red-light cameras at two Lancaster intersections, after the end of a 30-day grace period during which only warnings went out.
RED-LIGHT TICKETS GET GREEN LIGHT INTERSECTION GRACE PERIOD NOW OVER by Daily News (Los Angeles, CA)
The country will have 15 years to pay off the loan, which carries a five-year grace period.
The World Bank by Latin Trade
According to Aziz, the repayment period is from 5 to 39 years, with a grace period of zero to 10 years.
Pakistan's loans exceed $6 billion by Al-Arian, Laila / Washington Report on Middle East Affairs
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