NLIC-2280: Document Subscription “Grace Period”

docs/licensing-models/subscription.md

@@ -43,6 +43,26 @@ Required additional properties specific to the TIMEVOLUME [licenses](object-mode
 -   `Integer` **`timeVolume`** - specifies the licensed time period in days. Normally it is copied from the corresponding license template, but can be changed later for each license individually.
 -   [`Timestamp`](restful-api#data-types) **`startDate`** - specifies a date at which the validity period of the license begins.
 
+Grace Period
+------------
+
+By offering the Grace Period option, you can provide flexibility to your customers and ensure a smoother transition in subscription renewals.
+
+Grace Period option under the Subscription Licensing Model allows you to provide a specific time frame during which your end-users can continue to use your software, even if their subscription has expired. It can be useful in situations where users need additional time to renew their subscription or when a temporary interruption in subscription payment has occurred.
+
+To enable the Grace Period option for Subscription licensing model in NetLicensing, follow these steps:
+
+-   Sign in to your NetLicensing account
+-   Go to the Products section and select the product you want to enable the Grace Period for
+-   Select Product Module configured by the Subscription Licensing Model
+-   Scroll down to the Packages section
+-   Enable "Grace Period" option
+-   Save your changes
+
+Once the Grace Period option is enabled, the end-users can continue to use your software during the specified Grace Period, even if their subscription has expired.
+
+It's important to note that during the Grace Period, end-users are expected to renew their subscription to maintain access to the software features beyond the Grace Period.
+
 Validation
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