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What is the difference between an item “being held” and one in “transit”?

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What is the difference between an item “being held” and one in “transit”?

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If an item is being held, someone has paid a hold fee to have it held for them when it became available, or has requested that it be sent from one library to another that is more convenient for them. An item in transit is usually one that was returned to a library other than the one it belongs to, and is on its way back to where it belongs.

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