Definition, Meaning & Synonyms

cooling-off period

noun

/ˈkuːlɪŋ ɔːf ˈpɪərɪd/

Definition

A cooling-off period is a designated time after a decision or action during which a person can reconsider or retract their choice without any penalties or consequences.

Examples

After signing the contract, you have a three-day cooling-off period during which you can cancel without any fees.
The company offers a cooling-off period for customers who might need more time to consider their purchase.
During the cooling-off period, both parties were able to discuss their needs and concerns more thoroughly.

Meaning

It allows individuals to reflect on their decisions to ensure they are making the right choice, particularly in contexts like contracts, agreements, or consumer purchases.