cooling-off period

Also found in: Dictionary, Medical, Financial, Idioms, Wikipedia.

Cooling-Off Period

An interval of time during which no action of a specific type can be taken by either side in a dispute. An automatic delay in certain jurisdictions, apart from ordinary court delays, between the time when Divorce papers are filed and the divorce hearing takes place. An amount of time within which a buyer is permitted to cancel a contract for the purchase of consumer goods—designed to effect Consumer Protection. A number of states require that a three-day cancellation period must be allowed purchasers following door-to-door sales.

A cooling-off period is frequently used in labor disputes. There might, for example, be a period of one month following the filing of a grievance by a union or company against the other, during which neither the union nor the company is allowed to take retaliatory actions against each other.

cooling-off period

a time during which a person can withdraw from a binding contract without any serious penalty. A cooling-off period is not normally available. Such provisions can be found in relation to CANCELLATION of consumer credit contracts, TIMESHARE contracts and DISTANCE SELLING contracts among others.
References in periodicals archive ?
The two unions also agreed they might continue the cooling-off period on a day-to-day basis beyond the five-day extension.
Greg Abbott's "emergency" ethics reform package in the chamber, said a cooling-off period would not stop legislators from going to work for private industry and attempting to influence their former colleagues.
The requirements stipulate that the cooling-off right, cooling-off period and procedure to exercise such right shall be adequately disclosed in the investment form signed by the unit holder at the time of purchase of units.
Laws requiring a cooling-off period also may help fight against some of the negative viewpoints.
You automatically get a 14 day cooling-off period when you buy something you have not seen in person - unless it's bespoke or made to measure.
allegedly enrolled a consumer with an energy contract, even after the consumer complains a request was made to cancel the contract within the legislated 10-day cooling-off period.
THE OPTICAL Confederation (OC) has released updated guidance regarding the cooling-off period relating to distance and off-premises contracts.
At the end of the cooling-off period the flight attendants can begin the union's CHAOS strike actions.
TA) has announced that it has enhanced terms of the cooling-off period for CEO Galia Maor.
WORCESTER - A strike by Worcester Regional Transit Authority bus drivers and mechanics, which was scheduled to begin late last night, was averted, at least temporarily, after union and management officials yesterday agreed to a 15-day cooling-off period.
The Government has called for a seven-day cooling-off period to be introduced for store cards as well as a cap on outrageous charges of up to 30%.