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The HttpWebRequest.ReadWriteTimeout property is used when writing to the stream returned by the HttpWebRequest.GetRequestStream method or reading from the stream returned by the HttpWebResponse.GetResponseStream method.
Specifically, the HttpWebRequest.ReadWriteTimeout property controls the time-out for the System.IO.Stream.Read(Byte[], int, int) method, which is used to read the stream returned by the HttpWebResponse.GetResponseStream method, and for the System.IO.Stream.Write(Byte[], int, int) method, which is used to write to the stream returned by the HttpWebRequest.GetRequestStream method.
To specify the amount of time to wait for the request to complete, use the HttpWebRequest.Timeout property.