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cooling-off period

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 of cooling-off period
1945-50 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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British Dictionary definitions for cooling-off period

cooling-off period

a period during which the contending sides to a dispute reconsider their options before taking further action
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
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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