Avoiding Congressional intervention, Level 3 and Cogent announced on Friday that they have reached an agreement that will keep internet traffic flowing smoothly between their customers. Earlier this month Level 3 disrupted service to Cogent accusing them of overloading it's servers. The interruption of service led to problems for thousands of internet users and prompted Congress to threaten intervention.
Without disclosing much of the 'confidential' agreement, Level 3 confirmed that traffic caps governing the volume of traffic that each company can send would be put in to place. This agreement narrowly averted the previously announced disconnection date of November 9th, as was reported in a statement by Level 3.
News source: Source - BetaNews