Hey there! Do you know what standstill means? It means stop and hold on. Now, there is a term called standstill period. This refers to a time when something has stopped and is waiting to continue again.
Let me give you an example: Imagine playing a game with your friends where you take turns. When it's your friend's turn, you have to wait for them to finish before it's your turn again. During this waiting time, there is a standstill period where nothing is happening.
The same thing happens when companies want to buy something, like buying a big machine. When they want to buy something, they ask different companies to give them proposals, kind of like a plan or idea for the machine. There is a period of time when these companies have to wait and not talk about their proposals. This is called a standstill period.
So basically, a standstill period is a time where things are paused and waiting for something to happen next. It's like hitting the pause button on a video game or waiting for your turn to play a game with your friends.