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 ?
The cooling-off period "applies only to those who are lobbyists as defined in ORS 171.725(9)(a)," it wrote, a statutory reference to contract lobbyists.
In place of the cooling-off period, Geren inserted a provision making it a crime for ex-lawmakers, for a period of two years, to misuse "official information" obtained while in office.
In addition to cooling-off periods, open meetings, disclosures and lobbyist registration requirements all help prevent the appearance of impropriety and remove ambiguities that tend to obscure the lobbying process.
The issuing of the new guidance by the OC, of which the AOP is a founding member, comes following the introduction of new consumer rights legislation which sees the extension of the cooling-off period for distance and off-premises contracts extended to two weeks.
The June 12 strike date marks the end of a 30-day cooling-off period, as required by law, after the two sides were released from negotiations by the National Mediation Board.
"Closing the fund for a cooling-off period serves two purposes.
The senior Conservative who warned parts of Birmingham experienced crushing poverty has called for a new measures to strengthen marriage, including a cooling-off period for couples considering divorce.
The earlier legislation gives buyers the right to information in a prospectus before signing a contract, seeks to prevent 'pressure selling' by allowing for a cooling-off period of at least 10 days, and prohibits operators from taking deposits from buyers during the cooling-off period.
The FSC invokes a 10-day cooling-off period if shorting of a certain stock exceeds a trading volume of 5 percent for 20 days on the main bourse and 3 percent for the junior Kosdaq market.
One of the things they brought in was aseven-day cooling-off period to allow buddingstars the chance to consider their optionsaway from the pressured environment of a casting session.
The proposal would extend the listed entity independence provisions (e.g., partner rotation, cooling-off period, non-audit services restrictions) to all entities of significant public interest.
The cooling-off period was necessary, because "the decision to terminate a pregnancy or not is one with which the woman concerned will have to live for the rest of her life", she added.
If NMB officially releases the parties from talks, a 30-day cooling-off period would ensue before a strike could commence.
Ultimately, the best way to keep Iraq together is to give each community a cooling-off period in its own region.
One broadly proposed solution to mitigate this problem is a cooling-off period, a requirement that a certain amount of time must pass before former employees or owners from the current audit firm may accept employment with an audit client.