Days of grace

Days of grace
Number of days for which insurance cover continues beyond the actual expiry date of a renewable policy. If the renewal premium is not paid within this period, the policy lapses.
De minimis ...

to subscribe to or purchase, any of the foregoing; but shall not include currency or any note, draft, bill of exchange, or banker's acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, ...

In calculating the maturity of bills payable at a future time, three days, called days of grace, must be added to the nominal due date of the bill.

Days of grace, added to the actual number of days until maturity for the purpose of covering the number of days normally experienced in the transfer of payment, applicable to the country of risk.

wants to retain control of the goods being shipped to an importer or exporter, either for credit reasons or to retain title. Money is payable at sight, or when the completed documents are presented, or within a specified period called days of grace.

Days Of Grace
Additional days which may be allowed by a company to a debtor over and above the due date for payment. For example, a life insurance compan...(Read more)
De Minimis Limit ...

See also: Grace, Bill of exchange, Bills, Fraud, Expense