turndown(n = noun.act) nonacceptance - the act of refusing an offer; "the turndown was polite but very firm"
Derived form verb turn down₁, verb turn down₂, verb turn down₃

1.  Capable of being turned down; [Webster 1913 Suppl.]

2.  Made to wear with the upper part turned down; as, a turndown collar. [Webster 1913 Suppl.]

1.  An act of refusing or of being refused; as, to get a turndown in an application for a job, a grant, etc. [PJC]

2.  a decline in activity, especially business; as, they expect a turndown in housing construction in the fall. [PJC]