Waiting period

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A waiting period is the period of time between when an action is requested or mandated and when it occurs.^[1]

In the United States, the term is commonly used in reference to gun control, abortion and marriage licences, as some U.S. states require a person to wait for a set number of days after buying or reserving a firearm from a dealer before actually taking possession of it, a woman waiting for an abortion and individuals making applications on marriage licences.^[2]

Waiting periods are also used for new insurance policies, particularly health insurance,^[3] and also flood insurance. Incidents which occur during this time are not claimable.^[3] The term may also refer to the time between the making of a claim and the payment of it, also called the elimination period.

In business finance, a waiting period or quiet period is the time in which a company making an initial public offering (IPO) must be silent about it, so as not to inflate the value of the stock artificially. It is also called the cooling-off period. In lean thinking, the period when materials or work in process are waiting for the next stage of the manufacturing process is seen as one of the seven wastes (Japanese term: muda) which do not add value to a product.^[4]

Other activities potentially subject to waiting periods include marriage,^[5] divorce, abortion access for women, and merger proceedings.