This isn't how bitcoin works. If you have an amount in your bitcoin wallet, you can transfer it to another address. There doesn't need to be any approval. For personal comfort, a person may choose to send a small amount and then check with the recipient before sending the full amount, or maybe some bitcoin exchanges require this, but there is no requirement within the bitcoin framework to do this.
Thank you. Grace period, is a dated term used in other areas of financials.It's actually just a wallet address, not an 'account', there's not a grace period, fwiw.
Revised: Bitcoin transactions are not instant.