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 ?
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 OC points out to business owners that they should take note that spectacles and other prescription medical devices remain exempt from the cooling-off period.
Pedone, D-Worcester, for suggesting the cooling-off period.
Vanguard employed similar cooling-off periods for its High-Yield Corporate Fund in 2003 and its Health Care Fund in 1999.
The lack of regulation of long-term holiday products, re-sale and exchange schemes meant that they [consumers] are not covered by rules on cooling-off periods, deposits and consumer information," the Commission said.
MsMcCarthy said: "I have caseswhere my constituents have been pressurised into signing agreements whilst on holiday, but when back home, in the cold light of day, have changed their minds, but the company has not honoured the cooling-off period and they have had to fight to get their money back.
It also limits pressure selling by providing a cooling-off period of at least ten days.
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.
partner rotation, cooling-off period, non-audit services restrictions) to all entities of significant public interest.
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.
OTE members must provide a cooling-off period of 15 days, while the EU Timeshare Directive provides a minimum 10-day cooling-off period, in which it is permitted to change your mind and get your money back.
The Car Buyer's Bill of Rights, authored by Assemblywoman Cindy Montanez, D-San Fernando, would allow used-car buyers to have a two-day cooling-off period in which they could return a vehicle for any reason.