cooling off period


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cooling off period

A period of time in which a party to a contract may decide not to continue with the contract, usually without penalty.
References in periodicals archive ?
One of the Bangladeshi selectors did discuss this issue with him and informally said about the cooling off period to which Hathu laughed off.
The bank has cancelled the appointment of Anil Keshary Shah as its chief executive officer (CEO) after Nepal Rastra Bank (NRB) introduced a new rule on a cooling off period for chief executives of banks and financial institutions (BFIs).
If you are considering taking advantage of the cooling off period, ensure you know when this expires and any terms and conditions so you can use this to your advantage.
at home - then you have a 14-day cooling off period.
Don't be rushed into a sale | Always get any agreement you make in writing | Usually, you have a seven-day cooling off period if paying for a service - so if you decide to cancel the contract, act fast | Don't have work done or goods delivered during the cooling off period.
If you do not receive this in writing, then your cooling off period is increased even further, to a year and 14 days.
If either party rejects the proffer, then the NMB must place the parties in a 30-day cooling off period.
It is evident from the guidelines that a cooling off period is required for the re- election to the post of secretary general or treasurer, if either of that position has been held for eight years.
Under the proposals - agreed by the energy industry - from December 31 households will be able to change supplier after just three days plus a 14-day cooling off period.
If you decide to cancel your order within the cooling off period, you must tell the trader in writing.
If you have not signed agreeing to receive goods or services within the cooling-off period, you can cancel any time within the cooling off period and pay nothing.
He called for a six-month cooling off period to explore alternatives to redundancies and better statutory redundancy terms, claiming it costs pounds 150,000 on average to make a French worker redundant compared with pounds 5,000 for a UK worker with 20 years' service.