# gracePeriod

The period of time after any due date that the borrower has to fulfil its obligations before a default (failure to pay) is deemed to have occurred.

## Expected Types

| Type | Description |
|------|-------------|
| [Duration](https://schema.org.ai/Duration) | Quantity: Duration (use [ISO 8601 duration format](http://en.wikipedia.org/wiki/ISO_8601)). |

## Used on Types

| Type | Description |
|------|-------------|
| [LoanOrCredit](https://schema.org.ai/LoanOrCredit) | A financial product for the loaning of an amount of money, or line of credit, under agreed terms and charges. |

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Quoted from Schema.org 30.1, https://schema.org/gracePeriod, under CC BY-SA 3.0. Served by the Org.AI Foundation at https://schema.org.ai/gracePeriod.