What is a tolling instrument?

A tolling instrument is a legal agreement that allows parties to temporarily suspend the statute of limitations on a legal claim, effectively "tolling" or pausing the time period within which a lawsuit must be filed. This is often used in negotiations or when additional time is needed to gather evidence or resolve disputes without the pressure of an impending deadline. Tolling agreements can be beneficial in complex cases where parties seek to avoid litigation while working towards a resolution.