Machine implemented method and system for transferring replicated information from a first storage location managed by a storage operating system at a first storage system node and accessible to a client computing system to a second storage location managed by a second storage system node are provided. A resource pool having a plurality of tokens is maintained for authorizing a replication engine to transfer replicated information from the first storage location to the second storage location. The number of available tokens is increased when traffic due to client requests for accessing the first storage location is less than a first threshold level. The number of available tokens is decreased for reducing transfer of information via the replication engine, when latency in responding to the client requests reaches a second threshold value and the traffic due to client requests reaches the first threshold value.