Free Confidential Tolling and Standstill Agreement

A form of protection for both parties involved in a business dispute that extends the statute of limitations for filing a lawsuit.

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Suppose you have a disagreement with a business-related vendor or client: both sides are trying to work out the issue to avoid litigation, but the deadline to filing a lawsuit is growing close and you just need a little more time to see if you can resolve the problem before heading to the courtroom - that’s when you need a Confidential Tolling and Standstill Agreement.

 

A Confidential Tolling and Standstill Agreement acts like a pause button to the statute of limitations and gives the people involved in the dispute more time to find a solution.

Frequently Asked Questions

 

A confidential tolling and standstill agreement is a form of protection for both parties involved in a business dispute that extends the statute of limitations for filing a lawsuit.

 

 

 

In general, a confidential tolling and standstill agreement is used to stall the amount of time a person or business has to file a lawsuit while attempting to work out the problem with the other party.

 

 

The confidential tolling and standstill agreement should be signed before the statute of limitations is up for filing the lawsuit. Depending on your state and the claim, statutes of limitations run from 1 to 6 years.

If you need more time to continue negotiations but want to preserve the right to sue someone if the negotiations do not succeed, you may want to use a tolling and standstill agreement.  

 

You will need to provide the following details for the document:

  • Effective Date: Select the date that the confidential tolling and standstill agreement will effectively begin.

  • Party Details: Give the name and contact information for the parties signing this agreement.

  • The Dispute: You will need to describe both the dispute that exists between the two parties in detail and the actions that each party must refrain from taking during the tolling period.

  • Expiration Date: Determine the length of time the parties want to pause everything while they work on negotiations and enter that expiration date for the agreement. Six months of “pause time” is a commonly used length for the tolling of the statute of limitations. Regardless of the expiration date, each party may terminate the confidential tolling and standstill agreement at any time with 15 days notice to the other party.

 

 

Our propriety form generator will assist you in creating your customized Confidential Tolling and Standstill Agreement within minutes. Answering the questions is not complicated – you only need to know the basics of the deal and the information of the other party involved.

 

Once you complete the questionnaire and place your order, it will be available for immediate download in either PDF or Word document from your secure online account.   

 

 

Generally, confidential tolling and standstill agreements do not need to be notarized – you only need to sign the document to make it legally enforceable. A witness may be helpful if the other party contests the document, but a notary is not necessary.

 

Please Note: The use of a notary ensures that no one challenges any signatures later and is a secure way to firmly establish the effectiveness of your document.