Extra time allowed for meeting with a requirement, satisfaction of an obligation, or implementation of an agreement.
Use 'grace period' in a Sentence
Bill and the dealership went into the contract with the understanding that the purchase of the vehicle had a 5 day grace period in which he could return the car without any charges or fees.
After you buy the product, they give you a grace period to get your money back in case you don't like it, or it has some kind of problem.
AMEX sent me a bill yesterday, but I don�t have to pay my credit card just yet, because they have a 30-day grace period.
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