A guarantee made by the ship line that a passenger will receive his requested accommodations or better at the same rate.

A guarantee that the rate in effect on a given date will be the final rate on your loan when closed. Usually expires after a specified period of time.

The period of time, prior to closing of your house purchase ("the completion date") that a lender will guarantee that the interest rate they have offered will not rise. This is usually for a period between 60 and 120 days - although longer rate holds are available under special conditions. The commitment letter will also state under what conditions (if any) that they will decrease the interest rate if and when rates in general drop prior to your completion date.

An undertaking by an insurance company, as in an insured pension scheme, restricting the extent to which it will vary its rate of premium for a specified number of years.

The interest rate lock feature that lenders offer to borrowers.