grace period

noun

: a period of time beyond a due date during which a financial obligation may be met without penalty or cancellation

Examples of grace period in a Sentence

The terms of the loan allow for a ten-day grace period.
Recent Examples on the Web
Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.
Some voting laws have changed in Ohio since 2022, including the state eliminating its grace period for receiving mail ballots, a change that forces voters to return those ballots earlier. — Arkansas Online, 23 Oct. 2026 Netanyahu has burned so many bridges with his parade of lies that Eisenkot would probably get an international grace period simply by virtue of his relative honesty. — Aluf Benn, Foreign Affairs, 23 Oct. 2026 The policy provides a six-month implementation period after the bill becomes law, with an extra six-month grace period for businesses that can't implement the change until their next fiscal year or budget cycle begins. — Madeline Bartos, CBS News, 21 Oct. 2026 That also means organizations should give AI agents a grace period. — Doron Sitbon, Forbes.com, 20 Oct. 2026 See All Example Sentences for grace period

Word History

First Known Use

1907, in the meaning defined above

Time Traveler
The first known use of grace period was in 1907

Rhymes for grace period

See All Rhymes for grace period

Browse Nearby Words

grace note
grace period
grace with one's presence
See all Nearby Words

Cite this Entry

“Grace period.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/grace%20period. Accessed 27 Oct. 2026.

Copy Citation

Legal Definition

grace period

noun
grace pe·​ri·​od
: a period of time beyond a scheduled date during which a required action (as payment of an obligation) may be taken without incurring the ordinarily resulting adverse consequences (as penalty or cancellation): as
a
: a period of 30 days or one month during which premiums on insurance policies may be paid without penalty
b
: a period of ten days during which certain security interests (as those in fixtures) must be perfected in order to have priority over conflicting security interests under Article 9 of the Uniform Commercial Code

called also days of grace

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