cooling off period


Also found in: Legal, Financial, Idioms, Wikipedia.

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 ?
Meanwhile, Abdul Rashid said the ERC also proposed to introduce a 'cooling off period' after the election campaign period and before polling day.
(Reuters) - South Korea is exploring all options in a bitter trade row with Japan, including scrapping an intelligence sharing pact, but wants a cooling off period with Tokyo, a senior South Korean official said on Saturday.
This new law is accompanied by a proposal from the Dutch Minister for Legal Protection Sander Dekker for a cooling off period of two years for 'illegal operators'.
"Under the EU Consumer Rights Directive, which applies to people shopping online, consumers have the right to a 14-day 'cooling off period', whereby they can cancel the contract for any reason and not incur any penalties or fees."
Summary: Mandatory cooling off period for Indian board office-bearers
One of the Bangladeshi selectors did discuss this issue with him and informally said about the cooling off period to which Hathu laughed off.
at home - then you have a 14-day cooling off period. Set out your cancellation in writing and send by email and tracked post or deliver in person.
| 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. During the cooling off period, the NMB typically engages in intensive mediation efforts in a final attempt to avoid a work stoppage.
Some insurers even charge as much as PS75 for cancelling a policy during the 14-day cooling off period, warn watchdogs.