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A defendant may also benefit from the process, by becoming better informed about the plaintiff's claims and positions. Thus, tolling agreements can help inform the parties about litigation and avoid some costs. So if you think you might soon be party to a lawsuit, consider buying some time with a tolling agreement.

Why Would You Need a Tolling Agreement? Tolling agreements can be used in circumstances where both parties want more time to negotiate a settlement. Civil lawsuits can be resolved out of court if a defendant and plaintiff agree on an appropriate remedy.

Tolling is a legal doctrine that allows for the pausing or delaying of the running of the period of time set forth by a statute of limitations, such that a lawsuit may potentially be filed even after the statute of limitations has run.

Extending the Statute of Limitations Extending the statute is often called "tolling." Tolling or extending the statute temporarily stops the clock for a particular reason, such as the collector agreeing to extend your time to pay.

Tolling of the statute of limitations Sometimes the statute of limitations is suspended (?tolled?) for a period of time, and then begins to run again. For example, tolling may happen when the defendant is a minor, is out of the state or in prison, or is insane.

There are several key benefits of a tolling agreement: It provides more time for parties to negotiate a settlement, potentially avoiding the stress and uncertainty involved in court proceedings. It establishes a clear deadline for filing a lawsuit.

1. To stop the running of a time period, especially a time period set by a statute of limitations. 2. To bar or take away.

Extending the Statute of Limitations Extending the statute is often called "tolling." Tolling or extending the statute temporarily stops the clock for a particular reason, such as the collector agreeing to extend your time to pay.

The tolling agreement definition is when a potential plaintiff and potential defendant make a formal agreement to extend the statutory limitations time period on the plaintiff's claim, typically so that parties will have more time to settle their dispute without going to court.