grace period

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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

1. The time after the due date for a loan payment during which one may make the payment without any late fees or penalties. The length of the grace period depends on the loan terms, but is usually around 15 days.

2. The time after rent is due, during which one may pay rent without a late fee. The grace period for rent is usually five days.

3. In bonds, the time between the issue of the bond and the first coupon payment. This grace period usually applies to long-term bonds, where interest payments do not begin to occur for a few years after issue.

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.

Grace period.

A grace period is the number of days between the date a credit card issuer calculates your new balance and the date your payment is due.

In most cases, if you have paid the previous balance in full and on time, and you haven't taken any cash withdrawals, no finance charges are added to the amount of your purchases.

If you generally pay the entire balance due on time, you may want to choose a card with a longer rather than a shorter grace period, assuming the other terms are comparable. That gives you more time to be sure your payments arrive on time.

However, a minority of credit arrangements include a minimum finance charge, even if you do pay on time. Other lenders go back two billing cycles and will add finance charges if you have not paid the full amount due each time.

The grace period on a student loan allows you to defer repayment so that the first installment isn't due until six or nine months after you graduate or are no longer enrolled at least half time. The timing depends on the type of loan.

You also have a grace period in which to pay the premium on an insurance policy before the policy is cancelled. It's usually one month after the due date.

grace period

The allotted time during which a payment can be made without penalty and without entry upon credit records as delinquent or in default.

Grace Period

A number of days, usually 10 to 15, that a borrower is allowed to be late in making the mortgage payment without suffering any penalty.

References in periodicals archive ?
Days of Grace A forty-Day Journey With Jesus by Raymond Chapman Canterbury Press 161 pages, paper, $15.95 ISBN 1 85311 328 X
"One fact I can depend on," Ashe wrote in Days of Grace, "whatever happens, Jeanne is not going to panic.
SOUTHWELL: 11.35 Only One Legend, 12.05 Polar Haze, 12.35 The Fisio, 1.05 Mandown, 1.35 Days Of Grace, 2.05 Sharp Hat, 2.35 Feast Of Romance, 3.05 Distant Cousin.
Scenarist turned helmer Claver Salizzato's first feature overreaches and comes up with a steaming fist of cardboard alla carbonara in the form of "Days of Grace," a would-be WWII epic that's deficient on every level.
1.40 Three Black Dales, 2.10 Spirit Of Love, 2.40 Achilles Wings, 3.10 Noble Nick, 3.40 Days Of Grace, 4.10 Mary Jane, 4.40 Senator's Alibi 5.10 River Ensign.
I want to live until all the numbers are sacred, not just one, not just seven and not just twelve, not just three, but all the numbers, the twenty-three fallen in the battle of Huleikat, seventeen kilometers to that magical place, thirty- four nights, one hundred twenty-nine days of grace, three hundred thousand speed of light years, forty-three moments of happiness (and the number of the years of my life still x).
In this his final statement on the matter, he attacks affirmative action and says many Blacks have abandoned traditional "dignity" for "revenge." Throughout Days of Grace, Ashe speaks lovingly of his wife, Jeanne Moutoussamy-Ashe and his 6-year-old daughter, Camera.
It was also a happy ending for ownerbreeder Bob Pain, who is still breeding from the winning dam Days Of Grace.
Students had the chance to enrol at the college and then see the bands Autonomy, Severedstate, Days of Grace and Saving Sunday perform during the evening.
The judge said this was done in the hope of buying the conman "a few more days of grace".
The delighted trainer also trained the dam, Days Of Grace, to register her final career success over this course and distance back in 2001 and he said: "We very nearly lost him as a foal, but he is hard as nails, just like his mother was."
Headlining the event are Daventry-based band Autonomy, and also playing are Saving Sandy and Oxford based Days of Grace.