A grace period is a set time after the initial asset due date during which payment may be made without penalty. A grace period is intended to cover possible payments delays caused by bank-to-bank payments, national holidays, specific policies of the loan originator and minor lateness by the borrower. The most common length of the grace period for a loan on Debitum Network is 15 days, however, you can always review it in the details page of the asset.
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What is a grace period?
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