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English definition of “lock-in”

lock-in

noun [C] (FINANCIAL ARRANGEMENT)    /ˈlɒk.ɪn/ US  /ˈlɑːk-/
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
(Definition of lock-in noun (FINANCIAL ARRANGEMENT) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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