Types of Grace Periods
Some companies and organizations do not view one who fulfills an obligation within a grace period any differently. In these situations, a subject who is past due, but who meets the obligation within the grace period receives equal treatment and no penalty or negative reputation.
Other clients may receive a partial, less severe penalty. For example, many utility companies will charge a small late fee for those who do not pay their bill by the stated due date. However, the utility service provider will wait a longer time period before cutting off service.
Some companies may suspend certain privileges during a grace period. For example, self storage services will often waive a late fee if the rent is not paid for up to several days past the due date, but will deny the tenant access to his/her unit until the bill is paid.
Read more about this topic: Grace Period
Famous quotes containing the words types of, types, grace and/or periods:
“... there are two types of happiness and I have chosen that of the murderers. For I am happy. There was a time when I thought I had reached the limit of distress. Beyond that limit, there is a sterile and magnificent happiness.”
—Albert Camus (1913–1960)
“He types his laboured column—weary drudge!
Senile fudge and solemn:
Spare, editor, to condemn
These dry leaves of his autumn.”
—Robertson Davies (b. 1913)
“We raised a simple prayer
Before we left the spot,
That in the general mowing
That place might be forgot;
Or if not all so favored,
Obtain such grace of hours
That none should mow the grass there
While so confused with flowers.”
—Robert Frost (1874–1963)
“The History of the world is not the theatre of happiness. Periods of happiness are blank pages in it, for they are periods of harmony—periods when the antithesis is in abeyance.”
—Georg Wilhelm Friedrich Hegel (1770–1831)