cooling-off period


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cooling-off period

1. A period of time during a dispute wherein the parties involved do not communicate with one another as a means of reducing hostility and/or reconsidering their positions before taking further action. I think we both need a cooling-off period before one of us says something that we don't mean.
2. The time allowed after a purchase or the signing of a contract in which the buyer/signer may return the product or back out of the agreement without penalty or fee. I'm glad I had that cooling-off period after buying that sports car—there's no way I can actually afford it!
3. The period of time for which waste from nuclear fuel must be allowed to cool in water before being safely reprocessed or sent for permanent storage. If waste is not allowed its full cooling-off period, it could contaminate the environment and poison people.
See also: period
References in periodicals archive ?
If the visit was unsolicited and you were cold-called (if someone called in person or they phoned you to make an appointment without you asking them to) you have a seven-day cooling-off period.
She said the introduction of a 14-day cooling-off period for all credit agreements was in line with requirements under the draft European Consumer Credit Directive.
The company stipulated in writing a 20-day cooling-off period once customers had received its products.
The UK government's Office of Fair Trading takes the view that the normal postage and packing charges for the delivery, but not the return, of distance sales purchases must be refunded in addition to the cost of the goods when orders are cancelled during the cooling-off period.
But should the cooling-off period end without a fair agreement, make no mistake, this pilot group will strike.
IT depends on the terms of the contract you signed and whether or not there is a cooling-off period.
You have a seven-day cooling-off period with a deal like this - but that won't help if you realise after more than a week that's it's a rip-off.
The company and the IBT have been in a 30-day cooling-off period since being released from mediation by the NMB on Dec.
The National Mediation Board earlier this week declared a 30-day cooling-off period after talks between the company and its mechanics union.
Two Israeli motorists were killed by Palestinian gunmen in the West Bank yesterday as Israeli Prime Minister Ariel Sharon said an official cooling-off period to precede peace talks would not start until such attacks end.
Time Warner Cable and Fox have received a letter from NY Congressman Steve Israel requesting a 30-day cooling-off period in the current negotiations, during which Fox programming would remain available to Time Warner Cable subscribers.
Yesterday (12 May 2010) ALPA announced that the Spirit pilots it represents confirmed that they have a 30 day cooling-off period.
These sharks exploit a loophole which means that there's no cooling-off period if you buy from a sales rep who's made an appointment to visit you at home.
It was then amended to require a two-year cooling-off period before CPAs could go to work for public company audit clients.
If the cooling-off period expires without the parties reaching an agreement, the flight attendants can begin strike actions.