# Days of grace, in older documents also discretionary days (days of grace, grace period)

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- Post ID: 594784
- Modified: 2023-07-25T21:00:38+00:00
- Language: en

## Definition

Generally, the period of time offered to a borrower to remedy a default situation before an event of default is formally declared - Formerly, in bills of exchange, often two days granted after their maturity to give the holder time to protest, also called respiro days, respittage, discretion days and faveurtage. - See grace period, variation margin threshold, respiro, demand bill. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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