Is there a time delay for the person who initiated the channel to refund the transaction? If so where is this information documented (authoritative source)?
Yes there is. The place where the protol is documented are the BOLTs. What you are asking for is for example documented in the
open_channel message in BOLT 2: https://github.com/lightning/bolts/blob/master/02-peer-protocol.md#the-open_channel-message
There you can find the field
to_self_delay in which the initiating node of the channel defines its delay in blocks. On a implementation level the value of this field can be configured by the users