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English definition of “lock-in”

lock-in

noun [C] uk   /ˈlɒk.ɪn/ us    /ˈlɑːk-/

lock-in noun [C] (FINANCIAL ARRANGEMENT)

a length of time during which you are not allowed to end or change a financial arrangement: Your new mortgage may have a long lock-in period, particularly if you go for a fixed rate.Plans and arrangements

lock-in noun [C] (PUB)

UK informal an occasion when a pub locks its doors and allows people to continue drinking illegally after the time when it should have closed: There was a lock-in at my local last night.Selling and serving alcoholic drinks
(Definition of lock-in from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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