Like all Mobilicity devices, it does not come with a handset tab credit check, nor does it come with a contract to lock a customer into a multi-year service plan, as is often the case with Canada's incumbent carriers.

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This income stream is based on an annual 6% growth rate on all premiums invested in the contract, but also provides an automatic lock-in on its anniversary dates should the contract's value grow more than the base 6%.

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If you are willing to buy other services and agree to a contract, you likely can lock in lower rates for a year or two.

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For the wine drinker, buying a contract is simply a way to lock in a price (gambling it won't get cheaper with time).

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The contract, which allows participants to lock in prices rather than having to pay the going rate at the time they need apples, started trading on the Minneapolis Grain Exchange Inc. on Aug. 13 and was listed on CME Group Inc.

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And Cheng said she found it amazing that the iPad doesn't lock consumers into a mobile contract.

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Surrender charges can lock the consumer into the contract for quite some time, often running for seven to ten years.

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Put options (a contract to sell the stock at a future date) lock in a sell price, but increase costs, especially since they expire worthless if not executed.

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And in May, Australian lock Justin Harrison requested an early release from his contract following an alleged incident during the club's end-of-season party.

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