Get the free Form 12 TOLLING AGREEMENT It is understood and ... - ALI CLE

Form 12 TOLLING AGREEMENT It is understood and agreed between and his/her heirs and assigns () and the and its successors and assigns () that the limitations periods (including the period(s) for filing

How to fill out form 12 tolling agreement

How to fill out form 12 tolling agreement:

1. Provide your name and contact information: Start by entering your full legal name, address, phone number, and email address. This information is important for identifying the parties involved in the tolling agreement.
2. Identify the counterparty: Next, provide the name and contact information of the other party involved in the tolling agreement. This includes their full legal name, address, phone number, and email address. Ensure accuracy to avoid any confusion or disputes later on.
3. Define the purpose of the tolling agreement: Clearly state the purpose of the agreement, outlining the specific activities, projects, or transactions that the tolling agreement will cover. This helps both parties understand the scope of the agreement and minimizes potential misunderstandings.
4. Determine the duration of the agreement: Specify the duration of the tolling agreement by setting a start date and an end date. This ensures that both parties know the timeframe during which the agreement will be in effect.
5. Outline the terms and conditions: Provide a detailed description of the terms and conditions agreed upon by both parties. This may include the responsibilities and obligations of each party, payment terms, dispute resolution processes, termination clauses, and any other relevant provisions.
6. Review and revise: Carefully review the completed form 12 tolling agreement to ensure accuracy and clarity. If necessary, revise any errors or ambiguous sections to avoid future complications.

Who needs form 12 tolling agreement:

1. Companies engaged in toll manufacturing: Toll manufacturing involves outsourcing the production of goods or components to a third-party manufacturer. To protect their interests and define the terms of the manufacturing arrangement, companies may require a form 12 tolling agreement.
2. Energy companies involved in tolling arrangements: In the energy sector, tolling arrangements are often used when one company utilizes the facilities or infrastructure owned by another company to process or refine raw materials. Form 12 tolling agreements serve as legal documents defining the terms and conditions of this arrangement.
3. Manufacturing companies entering toll conversion agreements: Toll conversion agreements are commonly used in the manufacturing industry to convert raw materials into finished products. Companies engaging in such arrangements may utilize form 12 tolling agreements to establish the specifics of the agreement, including the responsibilities and payment terms.

Please note that the above information is designed to provide a general understanding and should not be considered legal advice. It is always recommended to consult with a legal professional familiar with your specific circumstances before completing any legal documents.

For pdfFiller’s FAQs

What is form 12 tolling agreement?

Form 12 tolling agreement is a legal document that suspends the statute of limitations on a claim, allowing parties additional time to negotiate or settle.

Who is required to file form 12 tolling agreement?

Parties involved in a legal dispute or claim that wish to suspend the statute of limitations are required to file form 12 tolling agreement.

How to fill out form 12 tolling agreement?

To fill out form 12 tolling agreement, parties must provide their names, contact information, details of the legal claim, and the agreed-upon tolling period.

What is the purpose of form 12 tolling agreement?

The purpose of form 12 tolling agreement is to provide parties with additional time to negotiate or settle a legal claim without the risk of the statute of limitations expiring.

What information must be reported on form 12 tolling agreement?

Form 12 tolling agreement must include the names of the parties, contact information, details of the legal claim, the tolling period agreed upon, and signatures of all parties involved.

How do I make changes in form 12 tolling agreement?

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