Cure period

cure period
Definition 1.
A provision in a contract allowing a defaulting party to fix the cause of a default, for example a repayment grace period.

Cure Period: A period during which a borrower is allowed to remedy a default under a contract.
Current Account: The portion of the balance of payments that tracks the import and export of goods and services.

time during which despite defaults in the payment, no legal steps will be taken against the delinquent payer by the lending or insuring company. The grace period is usually up to three months and can also be referred to as forbearance or cure period.

cure period A provision in a contract allowing a defaulting party to fix the cause of a default, for example a repayment grace period. currency Currency: Any form of money, including paper notes and coins, which is issued...

See also: Grace period, Grace, Cure, Fraud, Line of credit