Technically there is, it's mostly used by the worst domain registrars that nobody should be using, like GoDaddy to pre-register names you search for so you can't go and register it elsewhere.
Most registrars don't allow, nor have the infrastructure in place to let you cancel within the 5 day grace period so don't offer it and instead just have a line buried in their TOS to say you agree its not something they offer.
alt Hacker News
Technically there is, it's mostly used by the worst domain registrars that nobody should be using, like GoDaddy to pre-register names you search for so you can't go and register it elsewhere.
Most registrars don't allow, nor have the infrastructure in place to let you cancel within the 5 day grace period so don't offer it and instead just have a line buried in their TOS to say you agree its not something they offer.