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A tolling agreement is an arrangement between two parties that pauses the statute of limitations, allowing for more time to resolve disputes without filing a lawsuit. Builders may suggest this agreement while negotiating with an Association regarding construction defects. While tolling agreements can be beneficial, they only apply to the parties involved, which means that if a builder goes out of business or issues arise, other potentially liable parties, like general contractors or subcontractors, are not bound by the agreement. Consequently, the statute of limitations may expire during negotiations if not addressed carefully.