Pirelli has agreed a new three-year Formula One tyre supply contract with motor sport's world governing body the FIA.
It was confirmed late last year that Pirelli would continue as F1's single supplier of tyres for the future, despite a turbulent 2013 season for the Italian manufacturer.
Now Pirelli and the FIA, following extensive negotiations, have put some flesh on the bones of the initial agreement by announcing the length of the new deal.
The move comes in the wake of Pirelli finally managing to help define the sport's sporting regulations to ensure they can provide improved levels of safety and performance.
Last season was overshadowed by a string of tyre blowouts, coming to a head at the British Grand Prix at Silverstone which was almost halted mid-race due to the number of incidents.
Pirelli was ultimately forced to alter its tyres, resulting in speculation it would withdraw at the end of the campaign and a new supplier be sought.
Pirelli, though, complained long and hard it was being hamstrung by the regulations in terms of allowing it to develop its rubber.
Now compromises have been reached and changes to the rules applied, mandatory from the forthcoming season onwards.
In summary, one of the 12 days of official pre-season testing - that begins in Jerez later this month before moving on to Bahrain - will be dedicated exclusively to wet-tyre testing.
In addition, each team will dedicate one of their eight days of in-season testing exclusively to tyre testing.
This means during each of the eight days of in-season testing, at least one team - and up to a maximum of two - will concentrate on tyre testing along with Pirelli's engineers.
Previously, Pirelli was forced to use a car at least three years old - therefore entirely different in terms of specification to current models - to develop its tyres.
Pirelli will continue to determine the specification of the tyres and to manage all aspects of its development, in close consultation with the FIA and the teams, and within the parameters set out in the sporting and technical regulations.
Furthermore, Pirelli and the FIA have agreed to discuss how to go about establishing a possible partnership on the FIA Action for Road Safety campaign.