What Is a Tolling Agreement?

Elena Rostova
Elena Rostova
• • 7 min read

A Tolling Agreement Is a Written Agreement, Signed by Both Sides to a Potential Lawsuit, That Suspends the Statute of Limitations for an Agreed Amount of Time...

What Is a Tolling Agreement?

A tolling agreement is a written agreement, signed by both sides to a potential lawsuit, that suspends the statute of limitations for an agreed amount of time. ... With the limitations period

limitations period
A statute of limitations, known in civil law systems as a prescriptive period, is a law passed by a legislative body to set the maximum time after an event within which legal proceedings may be initiated. ... When a statute of limitations expires in a criminal case, the courts no longer have jurisdiction.
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suspended, the parties can have the time they need to negotiate and settle the dispute.

What does it mean by tolling agreement?

Meaning of tolling agreement in English

a contract to supply an agreed amount of raw material to be put through industrial processes by a particular factory: Under an innovative tolling agreement the company has acquired rights to the total monthly output of two mines.

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What is a tolling agreement in oil and gas?

Tolling agreements are a common feature of the energy industry. Through these agreements, a buyer will supply fuel to an electric generator and, in return, the generator will provide power back to the buyer.

Elena Rostova

Elena Rostova

Lead Health, Wellness & Medical Journalist
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Elena Rostova holds a Master's degree in Public Health Journalism. She covers groundbreaking medical research, holistic wellness trends, mental health awareness, and nutritional science.