Question

What do you mean by Grace Days ?​

Answer 1

Answer:

the correct answer is

Explanation:

A grace period is a set length of time after the due date during which payment may be made without penalty. A grace period, typically of 15 days, is commonly included in mortgage loan and insurance contracts.

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Answer 2

Answer:

Explanation:

Grace Days are the three additional days added to the nominal due date mentioned in a cheque.

The grace days help in avoiding accumulation of bad credit, as one can pay the amount of cheque once date has passed.

Also if a nominal due date with three grace days added, falls on the date of a Public Holiday, the cheque amount must be paid one day prior.