Cooling-off period

A cooling-off period is a short, fixed window after you agree a contract in which you can cancel it and get your money back, no reason needed. In the UK it is a consumer right on many distance and off-premises purchases, typically fourteen days, but it is a protection for individuals buying as consumers, not a general right that applies to every deal.

Business software contracts usually do not carry one: a company buying a SaaS subscription signs a business-to-business agreement, where cancellation is governed by the order form and the notice terms rather than a statutory cooling-off right. If you need the option to back out, negotiate it before signing - an evaluation period, a trial, or an explicit cancellation clause - because once the term starts the notice period is normally all you have.