> For the complete documentation index, see [llms.txt](https://lemurx.gitbook.io/whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://lemurx.gitbook.io/whitepaper/what-is-saft/lock-up-period.md).

# Lock-up Period

In some SAFT agreements, there may be a lock-up period during which the tokens are not immediately tradable or transferable. This lock-up period is typically specified in the SAFT agreement and can range from a few months to years. Once the lock-up period expires, SAFT investors receive their tokens, and they can freely trade or transfer them.