Definition of lock-in in English:
1An arrangement according to which a person or company is obliged to deal only with a specific company.
- The other landlords in the town thought we were taking their lock-in trade so they wanted to get us closed down and, eventually, we were.
- However, this deal comes with a £499 upfront arrangement fee, plus a two-year lock-in with a hefty early settlement penalty.
- On maturity, investors will receive either the final value of the bond (a minimum of 100 per cent of the original amount invested) or the highest lock-in value, whichever is greater.
1.1A period during which a person or company is bound by the terms of a contract: [as modifier]: a lock-in period
More example sentences
- A producer has an attractive and inelastic revenue source to the extent that "lock-in" makes switching to an alternative painful.
- The scheme will have a tenure of three to seven years, and will have an initial lock-in period, as specified by each bank.
- This means that when you use our services you are free from vendor lock-in.
2British A period during which customers are locked into a bar or pub after closing time to continue drinking privately.
- It is also claimed he drank in late-night lock-ins at the Rattlebone and at parties afterwards in the basement of his Highgrove home.
- I drank with them in the Bricklayer's Arms and enjoyed lock-ins at the pub on the corner of Curtain Road - The Mitre, is it?
- To relive the excitement of the lock-in, I'll be starting work at closing time tonight, and working through till breakfast.
Definition of lock-in in:
- US English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.