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tolling agreement. In DICTIOUS you will not only get to know all the dictionary meanings for the word
tolling agreement, but we will also tell you about its etymology, its characteristics and you will know how to say
tolling agreement in singular and plural. Everything you need to know about the word
tolling agreement you have here. The definition of the word
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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. 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): 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
- (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):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)
- (law) An agreement that has the effect of tolling or suspending the course of a fixed period of time, as a statute of limitations.