A period of time within which a person can get out of a contract. In Queensland, applicable to door to door sales contracts for the sale of residential property other than by auction building contracts signed at display homes purchase of a used car from a dealer.• Building Disputes• Contracts• Goods - sale of• Land - Dealings With• Used Cars

Also known as a Cancellation Period. This is a 14-day period, in the case of investments and insurances during which you may change your mind about an investment you have just made and have your money back instead. Cooling off periods apply only to some investments and are not available if you buy off-the-page in response to an advertisement or as an execution-only customer.

A stated time after contracts have been signed, in which time a purchaser can change their mind and rescind the contract.

In a securities offering where most of the registration work has been completed and everything stops to see is any objections or defaults will come to light. Participants are not to suppose to discuss the offering during this period.

The time period, usually about 20 days, between the filing of the registration statement with Securities and Exchange Commission (SEC) and the offer of those securities to the public. During the cooling off period, the syndicate and selling group members distribute Tombstone notifications announcing the new issue, send preliminary prospectuses to qualified investors for review, and take indications of interest from interested customers.

5 day period after exchange of contracts during which time the contracts may be cancelled

Under the terms of the Consumer Credit Act, there must be a cooling off period of 10 days after the loan agreement has been signed, where you can cancel the agreement for any reason without incurring a fee or penalty. The cooling off period is mainly to protect consumers from salesmen selling loans using high pressure techniques, where a loan may be agreed and signed when it is not in the interests of the borrower to do so.

The Conveyancing Act provides that a buyer can sign a contract for the purchase of residential real estate and receive the benefit of a five business days cooling off period. This enables the buyer to carry out enquiries such as building reports and pest reports to check that they are satisfied with the condition of the property. The cooling off period however can be waived if the lawyer acting for the buyer advises the buyer that by waiving their rights they will be bound immediately by the contract. As a matter of practice, most sellers as a condition of proceeding to exchange of contracts require the cooling off period to be waived. If the cooling off period is applicable and if a buyer decides to withdraw at the end of the five business days there is a financial penalty equal to 0.025% of the purchase price payable by the buyer to the seller. Cooling off periods can apply to other consumer contracts relating to purchase of various goods such as motor vehicles or the obtaining of finance.

Time period awarded to a purchaser following signing of a purchase agreement, during which they may cancel without any penalties. Back to the top

This is the time alloted to a purchaser following the purchase of a timeshare! Dduring this time you may cancel your agreement without any penalty. In the UK, the cooling off period is 14 days,everywhere esle in Europe it is 10 days, in Mexico it is 5 daysand in n the USA, the period varies from state to state, but is typically three, seven or ten business days. See also: rescission.

Period of time allowed to change your mind about a purchase decision. Currently, goods and services that are sold unsolicited are subject in law to a seven day cooling off period.

The legal entitlement of a property purchaser to withdraw from a contract by giving written notice within three clear business days after the Contract of Sale or Contract Note is signed. However, there are some circumstances where the cooling off period does not apply. 1. The price of the property including chattels exceeds $250,000. 2. The property is purchased at an auction or within three clear business days of a publicly advertised auction. 3. The purchaser received independent legal advice prior to the purchase of the property. 4. The purchaser is a real estate agent or corporate body. 5. The purchaser has previously signed a similar contract for the same property. 6. The property is used mainly for industrial or commercial purposes. 7. The property area exceeds 20 hectares and is used mainly for farming. The vendor is entitled to retain $100 or 0.2 per cent of the purchase price, whichever is the greater.

The time given to a purchaser following signing of a timeshare purchase agreement, during which they may cancel without penalty. In the UK, the cooling off period is 14 days, elsewhere in Europe it is 10 days, in Mexico it is 5 days. In the USA, the period varies from state to state, but is typically three business days. See also: rescission.

Some States allow a purchaser a brief cooling off period of a few days, to withdraw from a property sale contract without giving a reason and without penalty. Superannuation products and life insurance products will also generally have a cooling off period.

A period during which a customer, who has entered into a contract, may cancel it without incurring a penalty.

It refers to that time period in which a personal can cancel the agreement without incurring any penalty.

The time period in which a person may cancel the agreement without incurring any penalty.

This clause is included in an offer to purchase a property under R250 000. It is based on a new law allowing first time home buyers the opportunity to change their minds within five days of signing the offer.

Usually a five business day period available to a purchaser to withdraw from a contract for the sale of residential land.The five days is a default period that may be waived by virtue of a purchaser completing a sec 66w certificate or can be varied by mutual agreement between the vendor and purchaser. Three business days is required for private sale properties in Victoria.

A period allowed in certain circumstances during which a person who has entered into a contract (for example, an insurance policy or a personal loan) may cancel it without incurring any penalty.

The period of time that regulations allow, in some types of contracts, for you to cancel a contract with no financial penalty. See cancellation for more details.

Where applicable, it's a period after exchange of contracts during which time the contracts may be cancelled.

It is sometimes possible to negotiate this within a contract of sale. It is usually for a period of 5 business days and allows you to get out of the contract, usually with only the loss of a few hundred dollars. In an auction there is no cooling off period.

A period of 14 days from receipt of the statutory cancellation notice during which a policyholder may cancel the policy. For policies not covered by the Financial Services Act cancellation rules e.g. term assurances of less than 10 years, the relevant cooling off period is 10 days.

After you have exchanged contracts, you usually will have a five business day cooling off period.  During this period you still have time to change your mind and withdraw from the contract.  The owner is entitled to keep 0.25% of the agreed purchase price if you pull out during this time.  The vendor does not have any cooling off period after exchange.

This clause may appear in the contract of sale but only applies to the purchase of property under R250 000. It cover a cooling-off period where the purchaser may change his or her mind.. It is really only for first time home buyers in South Africa and will not cover overseas property purchasers.

The 14 day period during which a new policy holder can cancel an insurance/assurance policy

A predetermined time between a deposit has been paid & contracts being signed. This gives the parties concerned time think about their decision. These are different in each State or Territory in Australia. It is very important that you understand your cooling off period before signing anything.

The period of time within which a policyholder the right to cancel the insurance contract with no penalty costs being incurred.

A period of time, which may vary between 24 hours and 14 days (depending on the type of contract), during which a person/organisation can decide not to continue with a contract. There are conditions to the cooling off period - it is important to always read the contract and to not give away rights to a cooling off period. Cooling off periods are different in different states in Australia.

This is a period in which a customer has the right to cancel a contract of insurance without incurring any penalty.