tolling agreement
English
Etymology 1
tolling (“charging a fee”) + agreement
Noun
tolling agreement (plural tolling agreements)
- (business) An agreement by a toller with an owner of raw materials to process the raw material for a specified fee ("toll") into a product with the raw material and the product remaining the property of the provider of the raw material.
- 2006, Graham D. Vinter, Project Finance: A Legal Guide, page 130:
- In the mining industry, the owner of semi-processed material might enter into a tolling agreement with a smelter or refiner to turn his semi-processed product into metal
-
Etymology 2
tolling + agreement
Noun
tolling agreement (plural tolling agreements)
- (law) An agreement that has the effect of tolling or suspending the course of a fixed period of time, as a statute of limitations.