Budget locks are typically used with handle attachments or keys to provide an internal physical locking mechanism for a door or cabinet. This latch opens only one way, and is also sold opening the opposite direction (1086.02) and in both directions (1086.05). It takes an 8mm square drive.
This lock is commonly used for cabinets and boxes for tools and electrical items. It is also used in tool boxes, motor homes, camper trailers and utes.