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A hold is a voluntary courtesy offered by a freelancer to a client to help in the early stages of staffing a potential job. A first hold, or first pencil, says the freelancer will not take other work or make other plans that could interfere with a potential booking for an agreed on set of days.
In the event the freelancer would like to exit that hold, for any duration of time, a challenge must first be set with the client holding the days. The client can then either choose to release the time or book the time (24-hrs are given for this decision).