GRACE PERIOD Definition

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

SUBSIDIARY BOOKS see SUBSIDIARY LEDGER.

BRIDGE LOAN (BRIDGING LOAN) is an equity loan secured to solve short-term financing problem.

Suggest a Term