cooling-off period

American  

noun

1. a period arranged by agreement to allow for negotiation and an abatement of tension between disputing parties.

   The law calls for a cooling-off period before a strike can begin.

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cooling-off period British  

noun

1. a period during which the contending sides to a dispute reconsider their options before taking further action

2. a statutory period, often 14 days, that begins when a sale contract or life-assurance policy is received by a member of the public, during which the contract or policy can be cancelled without loss

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Etymology

Origin of cooling-off period

First recorded in 1945–50

Example Sentences

And background checks and a mandatory cooling-off period for gun sales were introduced.

From BBC

After four of them, there was a brief pause, or a cooling-off period with little movement, before the index, and the broader stock market, made a higher high.

From MarketWatch

"Having thoroughly investigated the customer accounts and call records, we have seen no evidence that they were misled, in relation to either the contract price and structure, or the availability of a cooling-off period," the spokesperson said.

From BBC

They said they were also promised a 14-day cooling-off period.

From BBC

They said they called 4Com to cancel within 14 days, but were told there was no cooling-off period and they could not cancel because they had signed the agreement.

From BBC

Related Words

• lag
• moratorium
• postponement
• problem
• setback
• stoppage
• suspension
• wait