Meaning of tolling agreement | Babel Free

Definitions

1. 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.
2. An agreement that has the effect of tolling or suspending the course of a fixed period of time, as a statute of limitations.
3. An agreement to deliver a specified amount of raw material per period through a particular processing facility.

Examples

“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”

“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⟳.”

CEFR level