|
Grace period
A period of time during which a payment is accepted as "on time," thereby avoiding any additional finance charges or penalties.
Credit-card accounts carrying a balance from one month to the next and delinquent mortgages do not have a grace period.
Financial terms alphabetically:
| #
| A
| B
| C
| D
| E
| F
| G
| H
| I
| J
| K
| L
| M
| N
| O
| P
| Q
| R
| S
| T
| U
| V
| W
| X
| Y
| Z
|