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As it stands, the set-bounty page (here is SU's for example) makes no mention of the grace period.

I would suggest that the page be edited to have a section saying something like the following:

To assist forgetful bounty owners, there is a 24 hour grace period at the end of every bounty. During this grace period, the question will not be featured, but the bounty can still be awarded at any time.

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... and a few days later, we have the first "I took the grace period into account, and then my cat needed surgery. Can we extend the grace period?" question here on meta? – balpha Jan 3 '12 at 22:09
So you are saying it should be left purposefully incomplete? – soandos Jan 3 '12 at 22:29
I haven't made up my mind, but you have to admit it's a counter-argument. – balpha Jan 3 '12 at 22:35
Don't think so. Alternative is having the same problem, but with people asking "what is this grace period?" I don't think either is a real problem. – soandos Jan 3 '12 at 22:37
+1 IMO we definitely need a grace period, and it needs to be clearly defined. I'm sure many of us are more busy than we are forgetful, and 24 hours feels like a sensible minimum grace period. – Dan J Sep 20 '12 at 20:17

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