cooling off period
Definitions
Accounting
- noun (written as cooling-off period)a period when negotiations have to be carried on and no action can be taken by either side
- noun (written as cooling-off period)a period during which someone who is about to enter into an agreement may reflect on all aspects of the arrangement and change his or her mind if necessary
Law
- noun during an industrial dispute, a period when negotiations have to be carried on and no action can be taken by either side
- noun a period of reflection allowed before making a legally binding commitment, e.g. before formally accepting an insurance policy
