Looking for synonyms for grace period? We’ve got you covered!
Here’s a list of other ways to say grace period.
- Extension period
- Deferred payment
- Payment holiday
- Moratorium
- Extension window
- Delay period
- Extra time
- Tolerance period
- Allowance period
- Courtesy period
- Buffer period
- Waiting period
- Forbearance period
- Additional time
- Leniency period
Want to learn how to say grace period professionally? Keep reading for examples and use cases.
1. Extension Period
Appropriate Use: Suitable for a formal extension of time granted for a specific task or payment.
Example: “The bank offered us an extension period of 30 days to complete the loan repayment.”
2. Deferred Payment
Appropriate Use: Best used when payment is postponed to a later date.
Example: “Due to the economic downturn, the company arranged for deferred payments on its equipment leases.”
3. Payment Holiday
Appropriate Use: Ideal for a temporary suspension of debt repayments.
Example: “The mortgage provider granted a three-month payment holiday to homeowners affected by the flood.”
4. Moratorium
Appropriate Use: Suitable for a legally authorized period of delay in the performance of a legal obligation or the payment of a debt.
Example: “A moratorium on commercial evictions was declared to support businesses during the pandemic.”
5. Extension Window
Appropriate Use: Best for a specific time frame where extensions are allowed.
Example: “The tax authorities announced an extension window until the end of May for tax filings.”
6. Delay Period
Appropriate Use: Suitable for a period where a process or obligation is intentionally delayed.
Example: “The contractor agreed to a delay period for the project’s completion due to unforeseen weather conditions.”
7. Extra Time
Appropriate Use: Ideal for informal or ad-hoc additional time granted for completing a task.
Example: “The manager gave the team extra time to finalize the report due to its complexity.”
8. Tolerance Period
Appropriate Use: Suitable for a period during which rules or penalties are relaxed.
Example: “The insurance company provided a tolerance period of 15 days past the premium due date.”
9. Allowance Period
Appropriate Use: Best for a period during which certain allowances are made.
Example: “The credit card company offered an allowance period before applying late fees to overdue accounts.”
10. Courtesy Period
Appropriate Use: Ideal for a period granted out of courtesy, often without formal requirements.
Example: “As a gesture of goodwill, the lender granted a courtesy period for the loan’s first installment.”
11. Buffer Period
Appropriate Use: Suitable for a period designed to absorb delays or unforeseen circumstances.
Example: “A buffer period of two weeks was built into the project timeline to account for potential delays.”
12. Waiting Period
Appropriate Use: Best for a mandatory or customary pause before an action or decision is implemented.
Example: “There is a 30-day waiting period before the new insurance policy becomes effective.”
13. Forbearance Period
Appropriate Use: Suitable for a period where creditors agree not to enforce debt obligations.
Example: “The bank agreed to a forbearance period of six months during which loan payments were suspended.”
14. Additional Time
Appropriate Use: Ideal for any extra time granted, typically in a more general context.
Example: “The regulatory body granted additional time for companies to comply with the new guidelines.”
15. Leniency Period
Appropriate Use: Suitable for a period during which rules or penalties are applied with leniency.
Example: “The university introduced a leniency period for late submissions of assignments due to the internet outage.”
