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. E.g. converting fuel into electricity at a certain price.
   • 2023, Thomson Reuter, “Glossary: Tolling agreement”, in (Please provide the book title or journal name)‎^[1]:
   • 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

2. (business) An agreement to deliver a specified amount of raw material per period through a particular processing facility.
   • 2018, Campbell R. Harvey, (Please provide the book title or journal name)‎^[2]:

     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.

Etymology 2

From 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.