tolling agreement

plural tolling agreements

1. businessAn 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. E.g. converting fuel into electricity at a certain price.

   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

   2006, Graham D. Vinter, Project Finance: A Legal Guide, page 130

2. businessAn agreement to deliver a specified amount of raw material per period through a particular processing facility.

   Tolling agreement: An agreement to put a specified amount of raw material per period through a particular processing facility. For example, an agreement to process a specified amount of alumina into aluminum at a particular aluminum plant.

   2018, Campbell R. Harvey, (Please provide the book title or journal name)

plural tolling agreements

1. lawAn agreement that has the effect of tolling or suspending the course of a fixed period of time, as a statute of limitations.

   Synonyms: standstill agreement