Grant
A grant may generally refer to any gift, appropriation, donation, or advance by any donor, whether absolute or conditional, for any purpose. There are numerous grants available through state and federal agencies. Many grants are also available through private entites. The Code of Federal Regulations contains many requirements for obtaining grants from the federal agencies that administer them.

Grace Period
A grace period is a contractual term that allows for payment or performance past the due date of the debt or time for performance if made within a specified period after such date.

Guaranty
A guaranty is a contract under which one person agrees to pay a debt or perform a duty if the other person who is bound to pay the debt or perform the duty fails to do so. Usually, the party receiving the guaranty will first try to collect or obtain performance from the debtor before trying to collect from the one making the guaranty (guarantor).

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