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A tolling agreement is a legal arrangement between two parties that pauses the statute of limitations, allowing more time for negotiations—often used by builders negotiating with an Association over construction defects. While it can be beneficial in facilitating time to resolve issues without filing a lawsuit, caution is advised. The agreement is only binding on the parties involved, which means if the builder faces financial difficulties or if other liable parties (like general contractors or subcontractors) are implicated, they may not be bound by the tolling agreement. Consequently, the statute of limitations could expire during negotiations with the builder, limiting legal recourse against other potential liable parties.