Definitions
There is 1 meaning of the phrase
Grace Period.
Grace Period - as a noun
A period of time past the deadline for fulfilling an obligation during which a penalty that would be imposed for being late is waived, especially an extended period granted as a special favor
Example: "The payment had originally been due on april 1 but we had a grace period which expired in june."
Synonyms (Exact Relations)
graceExample Sentences
"I have a 30-day grace period to pay my credit card bill without incurring any late fees."
"The landlord gave me a two-week grace period to pay my rent."
"During the grace period, the mortgage holder can make a payment without penalty."
"The grace period for returning library books is one week."
"She had a one-hour grace period after the scheduled meeting time."
