A grace period is extra time allowed before a penalty applies. A ten-minute grace period, a grace period on the payment.
It is built in on purpose rather than granted as a favour, which is why it can be relied on. Car parks and insurers both give one, and the length is usually printed somewhere small.
1noungrace periodExtra time allowed before a penalty applies.
“There is a ten-minute grace period before the ticket is issued.”
grace period is a period.
Practised in Time & Calendar