Meaning of “lock in sth” in the English Dictionary

"lock in sth" in Business English

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lock in sth

phrasal verb with lock uk /lɒk/ us verb

to get and keep an advantage such as a low price for something:

People are rushing to purchase homes and lock in affordable mortgage rates before they increase.
be locked in a battle/struggle/dispute

to be involved in a disagreement in which the two sides have a lot of difficulty finding a solution:

Butler is currently locked in a legal dispute with his former employers.

(Definition of “lock in sth” from the Cambridge Business English Dictionary © Cambridge University Press)