Grace period - A grace period is a period immediately after the deadline for an obligation during which a late fee, or other action that would have been taken a

Grace period - A grace period is a period immediately after the deadline for an obligation during which a late fee, or other action that would have been taken as a result of failing to meet the deadline, is waived provided that the obligation is satisfied during the grace period. In other words, it is a length of time during which rules or penalties are waived or deferred. Grace periods can range from a number of minutes to a number of days or longer, and can apply in situations including arrival at a job, paying a bill, or meeting a government or legal requirement. In law, a grace period is a time period during which a particular rule exceptionally does not apply, or only partially applies. https://en.m.wikipedia.org/wiki/Grace_period https://en.m.wikipedia.org/wiki/Grace_period