A reel assembly for controlling the displacement of webbing comprising: a webbing shaft with a geared end plate, the webbing being wound about the webbing shaft, with displacement of the webbing being controlled by rotation of the webbing shaft; at least one locking pawl pivotally secured to the geared end plate, the locking pawl having pivoted and unpivoted orientations, a calibration spring secured to the locking pawl, the calibration spring having a bias that functions to urge the pawl into the unpivoted orientation, the bias being overcome when the webbing shaft is rotated at a predetermined rate, whereby the pawl is moved to the pivoted orientation; a locking ring having a geared inner periphery, the locking ring positioned around the geared end plate and being independently rotatable thereto, the locking pawl engaging the geared inner periphery of the locking ring when the pawl is in the pivoted orientation, whereby rotation of the webbing shaft causes the rotation of the locking ring; characterized by further comprising: a locking bolt positioned adjacent the webbing shaft and having engaged and disengaged positions; a locking dog that is pivotally secured adjacent the geared end plate, the locking dog disengaged from the geared end plate when the locking bolt is in the disengaged position and the locking dog engaged with the geared end plate when the locking bolt is in the engaged position, with the locking dog in engagement with the geared end plate the webbing is prevented from being displaced from the webbing shaft; whereby rotation of the webbing shaft at a predetermined rate causes the locking pawl to move into the pivoted orientation and engage the locking ring to restrict the displacement of the webbing from the webbing shaft, and wherein continued displacement of the webbing causes the locking bolt to move into the engaged position such that the locking dog engages the geared end plate to prevent further displacement of the webbing. a webbing shaft with a geared end plate, the webbing being wound about the webbing shaft, with displacement of the webbing being controlled by rotation of the webbing shaft; at least one locking pawl pivotally secured to the geared end plate, the locking pawl having pivoted and unpivoted orientations, a calibration spring secured to the locking pawl, the calibration spring having a bias that functions to urge the pawl into the unpivoted orientation, the bias being overcome when the webbing shaft is rotated at a predetermined rate, whereby the pawl is moved to the pivoted orientation; a locking ring having a geared inner periphery, the locking ring positioned around the geared end plate and being independently rotatable thereto, the locking pawl engaging the geared inner periphery of the locking ring when the pawl is in the pivoted orientation, whereby rotation of the webbing shaft causes the rotation of the locking ring; characterized by further comprising: a locking bolt positioned adjacent the webbing shaft and having engaged and disengaged positions; a locking dog that is pivotally secured adjacent the geared end plate, the locking dog disengaged from the geared end plate when the locking bolt is in the disengaged position and the locking dog engaged with the geared end plate when the locking bolt is in the engaged position, with the locking dog in engagement with the geared end plate the webbing is prevented from being displaced from the webbing shaft; whereby rotation of the webbing shaft at a predetermined rate causes the locking pawl to move into the pivoted orientation and engage the locking ring to restrict the displacement of the webbing from the webbing shaft, and wherein continued displacement of the webbing causes the locking bolt to move into the engaged position such that the locking dog engages the geared end plate to prevent further displacement of the webbing. a locking bolt positioned adjacent the webbing shaft and having engaged and disengaged positions; a locking dog that is pivotally secured adjacent the geared end plate, the locking dog disengaged from the geared end plate when the locking bolt is in the disengaged position and the locking dog engaged with the geared end plate when the locking bolt is in the engaged position, with the locking dog in engagement with the geared end plate the webbing is prevented from being displaced from the webbing shaft; whereby rotation of the webbing shaft at a predetermined rate causes the locking pawl to move into the pivoted orientation and engage the locking ring to restrict the displacement of the webbing from the webbing shaft, and wherein continued displacement of the webbing causes the locking bolt to move into the engaged position such that the locking dog engages the geared end plate to prevent further displacement of the webbing.