What is another word for cooling-off periods?
Pronunciation: [kˈuːlɪŋˈɒf pˈi͡əɹɪədz] (IPA) 
Cooling-off periods refer to the time period in which an individual can reconsider and retract their decision before it becomes final. There are several synonyms for this term such as grace period, waiting period, time to think, timeout, and pause clause. The grace period is typically given to a borrower before they are required to make a loan payment. A waiting period is the amount of time that must elapse before certain actions can be taken. The timeout allows individuals to take a break and reflect on their actions. Lastly, a pause clause is a contractual agreement that enables parties to stop and evaluate the situation before moving forward. Regardless of the synonym, the intent behind cooling-off periods remains the same, to provide individuals with an opportunity to reconsider their choices.
