cooling-off period

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1 The 14 days that begins when a life-assurance policy, credit agreement, etc., is effected, during which new policyholders, borrowers, etc., can change their minds. During this period any policies or agreements entered into can be cancelled with a full refund of any premiums, arrangement fees, etc.

2 The time that must elapse after a failed takeover bid before a new bid can be made.

3 In the USA, the time between registration of a new securities issue and the offer of this issue to the public.

Subjects: Financial Institutions and Services.

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