tolling agreement

English

Etymology 1

tolling (“charging a fee”) + agreement

Noun

tolling agreement (plural tolling agreements)

  1. (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)

  1. (law) An agreement that has the effect of tolling or suspending the course of a fixed period of time, as a statute of limitations.
This article is issued from Wiktionary. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.