What does stringent mean?

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From our dictionary:

strin•gent

Pronunciation: (strin'junt), [key]
adj.
1. rigorously binding or exacting; strict; severe: stringent laws.
2. compelling, constraining, or urgent: stringent necessity.
3. convincing or forcible: stringent arguments.
4. (of the money market) characterized by a shortage in money for loan or investment purposes; tight.