But whilst Edwards may still be some way from deciding his 2009 destination, Toseland's M1 future was secured after just two rides.
"I had a two-year deal with a second year option for the team and it was up for discussion in September of this year," Toseland explained. "But because of the second place in qualifying at Qatar and the top sixes that I'd had, in Qatar and Jerez, I'd shown the potential to be competitive at this level and there was no point in wasting any more time.
"We got it signed and sealed. So now we can work closely together and know that all the mechanics, team and rider will be together for two years and we can build a good relationship."
Crucial to the Tech 3 team's competitiveness this season has been access to the latest 2008 YZR-M1s, unlike Honda's satellite teams which are using last year's factory machine.
Toseland and Edwards began the year with a valve-spring engine, but were handed Yamaha's powerful pneumatic-valve design - as used by the factory team - from round three at Estoril.
Toseland confirmed that he will start the 2009 season with a 2009 YZR-M1 - although he isn't sure if his current machine will be updated between now and the end of this season.
"Obviously I ask every weekend when I turn up to see if there's been any goodies [new parts] in the post," said Toseland. "At the moment we'll be riding the package that we've got for the remainder of the season - but it's a good package, it's competitive, and I'll be looking to get the most out of it."
Toseland will be chasing a debut MotoGP podium, in front of his home fans, at this weekend's British Grand Prix at Donington Park.