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A tolling agreement is a contract between two parties that pauses the statute of limitations during negotiations, often proposed by builders addressing construction defects with an Association. While this agreement allows extra time to settle issues without filing lawsuits, caution is necessary. It only binds the parties involved in the agreement. If the builder goes out of business or other complications arise, other liable parties, like general contractors and subcontractors, remain unaffected. Consequently, the statute of limitations may expire while negotiations with the builder are ongoing, potentially limiting legal recourse against those other parties.