If you are about to take legal action, or if you think you are being sued, you should consider proposing a toll agreement. Toll contracts do not renounce valid arguments in favour of a pre-expired statute of limitations or rest period, but only for those during the toll period. If one of the two parties wants more time to gather evidence, a toll agreement can be used. If the parties feel that they are close to a negotiated solution agreement and do not want to bring an action, a toll agreement is useful. Finally, in cases where the parties disagree on the date and date of the start of the limitation period, a toll agreement can be an effective means of protecting all parties from a negative decision. A toll agreement should not be a complex document, but it has a significant impact if it is not properly developed. Therefore, toll agreements should not be developed without the assistance of a lawyer. Among many issues, the lawyer developing the toll agreement can examine important aspects of the litigation in order to preserve claims, defences, physical evidence and testimony. A defendant can also benefit from the procedure by being better informed of the applicant`s rights and positions. Thus, toll agreements can help inform parties about disputes and avoid certain costs.
(2) Commercial considerations among co-accused may have an impact on decisions on toll agreements. Approval of a toll agreement may also be more commercial than procedural. If, in the past, the parties have maintained a mutually beneficial business relationship and hope to do so in the future, while maintaining their legal rights, a toll agreement can achieve this. 3. Make sure that toll agreements do not conflict with the date of orders in a way that affects your customer. The toll agreement must specify the length of time the parties suspend the statute of limitations. A toll contract is a contract that binds only the parties to the agreement. It is therefore important to ensure that all parties to the dispute are identified and in accordance with the terms of the toll agreement. If the litigants are companies (for example.
B a limited liability company or company), a lawyer should check whether the companies are in good condition and can enter into a contract. The plaintiff can take advantage of the defendant`s fear by asking the defendant to cooperate in another way. Thus, under the toll agreement, the applicant could require the defendant to provide documents and/or answer questions about the litigation. The applicant`s benefit from the toll contracts is that he is able to extend the time he has to investigate and gather evidence to support their claim. In the absence of a toll agreement and sufficient facts to support a statute of limitations before the statute of limitations expires, a plaintiff may lose his or her chance to sue forever.