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cooling-off period


Definitions of cooling-off period

a length of time during which a person that has agreed to the terms of a contract can change their mind and cancel the contract without loss, especially in consumer contracts

The proposals include a cooling-off period of 14 days for shoppers.

an interval during which disputing parties can try to settle before taking further action

This triggered a 30-day cooling-off period under the Act, at the expiration of which the Act permits a union to resort to a strike.