noun
grace period; moratorium
A set period during which a rule or penalty is not enforced, often used in legal, financial, or administrative contexts.
猶予期間中に支払いを済ませれば、延滞金はかかりません。
If you complete the payment during the grace period, no late fee will be charged.
この保険には30日間の猶予期間が設けられています。
This insurance has a 30-day grace period.