GRACE PERIOD Definition

Bookmark and Share

GRACE PERIOD is the period of time between your statement date and the due date, i.e. it is the time period stipulated in most loan contracts and insurance policies during which a late payment will not result in penalties, default or cancellation.

Learn new Accounting Terms

EFFICIENCY is the ratio of the output to the input of any system.

DIRHAM is a currency of Morocco and United Arab Emirates.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.