Best practices for handling third-party API rate limits and throttling?

I'm working on a project that involves integrating third-party APIs, and I’m looking for advice on the best practices for managing rate limits and throttling. Specifically, I want to make sure that the integration handles high volumes of API calls efficiently without hitting rate limits or overloading the service.

Here are a few things I'm considering, but I’d love to hear your experiences and insights:

  1. Rate Limit Awareness: How do you typically monitor and manage the rate limits set by third-party APIs? Do you rely on specific libraries, or do you manually check and adjust your calls?
  2. Batch Processing: If the API supports batch requests, how do you manage the batching logic? What’s a good strategy to minimize the number of calls without losing data integrity?
  3. Error Handling and Retries: What’s your approach to handling rate-limit errors (e.g., HTTP 429)? Do you use exponential backoff, or are there other methods that you’ve found to be effective?