Topic: FINANCE
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cooling-off period [countable]
1BF British English a period of time after you have signed some types of sales agreement, when you can change your mind about buying something : 
Customers signing new life policies will have a cooling-off period of 14 days in which to cancel.
Customers signing new life policies will have a cooling-off period of 14 days in which to cancel.2 a period of time when two people or groups who are arguing about something can go away and think about how to improve the situation
