grace period


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grace period

1. A period of time after a debt has become due for payment during which no new fees, penalties, or interest are accrued. Our new student credit plan offers an additional 30-day grace period on all credit card purchases.
2. A period of time after an insurance premium has become due for payment during which the terms of the policy remain active and in effect. Luckily, I was still within the grace period for my home insurance policy when the basement got flooded, or else I don't know how I would have afforded the repairs!
3. By extension, any period of time following a deadline during which no penalty is issued. Due to his mother's sudden death, James was given a grace period of three weeks to submit his dissertation.
See also: grace, period
References in periodicals archive ?
Japan's grace period can also be interpreted as being somewhat
He said that they ended up paying only Dh20 million, when the total value of the actual fines was Dh270 million before the grace period.
Dubai - UAE telecom service provider etisalat will cut service to customers after a 15-day grace period following their bill's due date, according to an etisalat statement quoted in an Arabic newspaper.
The royal order comes amid uncertainty, with only two days left of the grace period earlier issued by King Abdullah.
It said that the King has directed to extend the grace period for correcting the status of violating workers until the end of the current Hijri year 1434 AH as a maximum grace period and after that period, security and competent authorities shall start their campaigns and regular functions to detain violators in all regions of the Kingdom effective from Muharram 1, 1435 AH and all legal procedures shall be applied against violators.
is extending the grace period a violation of the Windows 7 End User License Agreement (EULA), the spokeswoman said.
In addition, Government is consulting on introducing a grid delay grace period for projects that fall outside the criteria announced, but still experience grid connection issues.
For retail customers who have lost their jobs or are dealing with health problems or a loss of income the bank is extending the time for loan repayment by up to 15 years, or up until the borrower's 70th birthday, with a grace period of up to two years and a reduced interest rate.
Unemployed individuals with housing loans and homes that do not exceed e1/4250,000 can apply for a grace period of 15 months, until the start of 2016, the lender said.
1 ( ANI ): Saudi Arabia has denied reports that the grace period for foreigners staying illegally in the kingdom to regularize their situation will be extended.
THE Construction Industry Training Board (CITB) announced last month that there will no longer be a grace period of six months for the Site Safety Plus Scheme.
As the deadline for the grace period nears, expats are scrambling to their countries' missions to obtain official documents to normalize their status.
Manama: Saudi Arabia's interior ministry has urged foreigners staying illegally in the country to take advantage of the three-month grace period to regularise their situation.
Summary: SHARJAH - The grace period for paying the traffic fines with 50 per cent discount in Sharjah will be over by the end of this month, a senior officer reminded motorists.
When the grace period ends, dog owners who fail to comply with the ordinance could face $250 fines.