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If you have an item which another user has reserved, you will have to return the book on or before the due date, or you will be fined for every day it is late. You will not be able to renew the item. Once it is returned, however, you can reserve it if there are still no other copies available.
Fines are charged for the late return of 1 week loans and Inter-Library Loans.
For further information about charges, see: Charges - Borrow or Request.