Grace Period - Advantages and Disadvantages

Advantages and Disadvantages

Grace periods can provide some advantages. For example, people who habitually are on time for their obligations, but due to occasional unforeseen circumstances are late on a rare occasion, can avoid a penalty for being late within the grace period and maintain their reputation for timeliness.

However, habitual procrastinators may come to view the grace period as the actual deadline, and if, due to unforeseen circumstances, they are occasionally late beyond that, they might complain about the applied penalty.