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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.
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


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