Deferral (noun)

1. A deferment.
2. The act of deferring or delaying something.
3. A postponement or delay.

Origin:

Mid 19th century: from defer + -al.

Examples:

1. The company was granted a deferral on its loan payments until next year.
2. The deferral of the project allowed more time for planning and preparation.
3. Due to the pandemic, the government has announced a tax deferral for small businesses.
4. He requested a deferral on his exams due to his illness.
5. The school has granted a deferral to students who were unable to complete their exams due to technical issues.