Before delving into Schewels’ specific grace period for late payments, it’s essential to grasp the concept of a grace period in the context of financial transactions. A grace period refers to the additional time granted beyond the payment due date during which a payment can be made without ...
Grace Period Duration: The duration of the grace period itself is a significant factor influencing the first payment due date. A shorter grace period necessitates prompt attention to the subsequent due date, while a longer grace period provides a more extended window for borrowers to prepare for ...