Learner's definition of COOLING–OFF PERIOD
a period of time that must pass before you can do something or before an agreement becomes final
The law requires a cooling-off period between the time a gun is purchased and when it may be possessed.
The workers have agreed to a 30-day cooling-off period before they strike.
Once you join the pension plan, you have a 14-day cooling-off period within which to change your mind.