cooling off period

cooling-off period

noun
a period arranged by agreement to allow for negotiation and an abatement of tension between disputing parties: The law calls for a cooling-off period before a strike can begin.

Origin:
1945–50

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World English Dictionary
cooling-off period
 
n
1.  a period during which the contending sides to a dispute reconsider their options before taking further action
2.  a statutory period, often 14 days, that begins when a sale contract or life-assurance policy is received by a member of the public, during which the contract or policy can be cancelled without loss

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