A restraint device for being secured on a telescopic suspension comprising a first portion, which may be a fork band comprising a first restraining hook, a second portion comprising a body, a trigger, at least one magnetic member, and a second restraining hook, wherein the first restraining hook and the second restraining hook are configured to selectively engage one another to secure the suspension in a compressed position, and wherein the at least one magnetic member is configured to retract the second restraining hook when the device is disengaged to permit normal operation of the suspension.