cooling-off period


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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 ?
Earlier in the day, the Apex Court had amended the draft constitution proposed by the BCCI, in which it made changes in the cooling-off period of the Board's officials.
The ethics commission's ruling on Buckley only deals directly with whether the cooling-off period applies to lawmakers who might lobby as public agency employees.
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 reasoning behind a cooling-off period is that the longer a former legislator is out of office, the fewer former colleagues will be in the statehouse upon his or her return.
The client should notify the BSFI in writing about his intention to terminate the agreement within the cooling-off period. The client shall shoulder only reasonable amount of processing or administrative fees plus any mark to market costs from the signing of the contract up to its cancellation.
"When you buy online, you are given a cooling-off period of 14 days after you receive the product.
THE OPTICAL Confederation (OC) has released updated guidance regarding the cooling-off period relating to distance and off-premises contracts.
In February, the SCA pilots voted nearly unanimously to authorize ALPA to call a legal strike if necessary, upon a release from mediation by the National Mediation Board and the expiration of a cooling-off period.
Laurie, 16 MANY of us jump from relationship to relationship without a cooling-off period. Your sister is getting involved with the first person who comes along and this will make her unavailable when the right one does show up.
PAXTON -- One week after the fire chief suggested the town dump ambulance service from the private Spencer Rescue Squad, selectmen voted to go ahead and negotiate a new contract with the squad -- but only after a cooling-off period.
On 9 March 2012 the AFA asked the National Mediation Board (NMB) to declare that negotiations were at an impasse and asked for a proffer of arbitration, this is a required step before a 30-day cooling-off period, during which negotiations typically take place and lead to an agreement or a strike.
The report includes a ban on second jobs involving lobbying, a strengthening of financial declarations and the definition of conflicts of interest but sanctions remain weak and no compulsory legislative footprint or cooling-off period is foreseen (see Europolitics 4234).