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From The Collaborative International Dictionary of English v.0.48:
Bollard \Bol"lard\, n. [Cf. Bole the stem of a tree, and Pollard.] An upright wooden or iron post in a boat or on a dock, used in veering or fastening ropes. [1913 Webster] Bollard timber (Naut.), a timber, also called a knighthead, rising just within the stem in a ship, on either side of the bowsprit, to secure its end. [1913 Webster]