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grace period

   Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.01 sec.
grace period,
n a specified time, after a plan's premium payment is due, in which the protection of the plan continues subject to actual receipt of the premium within that time.


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The agreed duration for the settlement treaty is called the grace period and it is usually 25 to 40 days after the purchase.
As the grace period shrinks, however, increasingly-frequent messages appear on the screen.
the payment should be made within 60 days of delivery and not as wineries demand, in three installments and with grace period," says Ljupco Arizanov, representative of vine-growers from the region of Tikves.
 
 
 
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