How many banking days are clients given to cancel a UITF contract after signing?

In the context of Unit Investment Trust Funds (UITF), clients are typically granted a period of two banking days to cancel a UITF contract after signing. This timeframe allows investors to reconsider their decision and provides a cooling-off period. It's designed to protect clients by giving them time to evaluate their investment choices after they have signed the contract, ensuring they are making an informed decision.

This standard may vary slightly among different financial institutions, but the two banking days is a widely accepted practice. The rationale behind this duration is to balance investor protection with the operational needs of financial institutions, allowing them to manage and process transactions efficiently while respecting clients' rights to withdraw from the investment.