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 ?
coach, now with the Cricket West Indies board as their High Performance Director) : "You can't have a cooling off period, it's professional sport.
But the Delhi High Court has said that one has to read both guidelines concurrently, which means that there has to be a cooling off period after two successive terms as secretary/ treasurer, if one is seeking to become the president," he said.
Ofgem's additional proposals to introduce next day switching by 2018 at the latest will still include the 14-day cooling off period but it will begin after a customer has changed supplier.
In practice, the length of the cooling off period can vary.
This 10-day cooling off period is an opportunity for continued negotiations while guaranteeing that NBCU cannot black out its networks to DISH customers, said DISH, in regards to the on going negotiations with NBCUniversal.
In the event, that at the end of the cooling off period, it has not reached an agreement with NBCU, DISH will have up to five days to formally request arbitration.
Upon completion of the cooling off period he will take up an executive position within the PointBreak Group Namibia.
This cooling off period will be three- and- a- half years, which is six months less than one term lasting four years.
The law states that traders who conduct their business by visiting consumers' homes, whether or not their visit is solicited or unsolicited by the consumer, are required to issue a seven day cancellation notice or cooling off period.
The extension of the conciliation period cannot be extended without the agreement of Jazz Air and ALPA and it currently ends on 22 May 2010, after which a 21 day cooling off period will begin.
The regulations provide a seven day cooling off period from the day after signing the agreement, providing the purchase is over pounds 35.
They said there was to be a seven-day cooling off period and sent them home.
His move to Anfield has been a done deal for some time and despite his comments in the past weeks about keeping his options open,I believe that is only to allow a cooling off period after leaving Valencia.
After thinking about it carefully and getting some advice he decided to cancel within the 14-day cooling off period that was allowed.
MTA officials say the cooling off period is not necessary as negotiations with the drivers' United Transportation Union are progressing.