- 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
