1. drop lock - Noun
2. drop lock - Adjective
drop lock (plural drop locks)
A kind of lock by which a short length of canal can be temporarily lowered while a boat passes under an obstruction such as a low bridge.
drop-lock (not comparable)
(finance) Having a floating interest rate until a certain market rate is reached, at which point the interest rate becomes fixed.
a drop-lock bond
a drop-lock stock
drop-lock