Inpractice，usuallyagraceperiodisallowedforpaymentoutsidethepaymentdeadline。Thisgraceperiodallowstheremittersomemoretimeforpaymentwithoutanypenaltyandfees。However，theperiodmayvarydependinguponthepoliciesoftheissuingcompany。Besides，thereareseveralothermodesofpaymentsuchaselectronicpaymentsandonlinebanking。Theseelectronicpaymentmethodssavetimeandaremoresecurethantraditionalmethods。Italsohelpsinreducingmanualpaperworkinvolvedintheprocess。Moreover，theyofferconvenienceintermsoffasterpaymentsandnotransactioncost。