I would assume you are talking about the grace period?
it is credit :]
usance
It is called as lead time.
They are called 'Limited Payment Life Insurance Policy' where premium has to be paid for a specific time period.
accounts receivable is always created
Payment of life insurance premia is allowed on line, along with payment over counter whether payment by cash or cheque.
Amonthley payment on a house is called a "Mortgage"
A fixed payment which is made annually is called an annuity.
Down payment
A balloon payment mortgage does not fully amortize over the term of the note. Because of this, a balance is due at the time of maturity. The final payment is called a "balloon payment" because of its large size.
installment debt
No there are not allowed any payment from the club