Identifying a pivoting joint mechanism

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stevebenson
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Hello all,

I need help identifying the following pivoting joint, and also coming to an understanding of how this particular joint works and is designed...

Thanks for your help!
Close-up of a silver metal exercise machine's pivoting joint, with curved steel arms meeting at a central hinge block and a hand gripping a black handle at right, a weight plate with a warning label at upper left.
 
It looks like a basic swivel arrangement. There's probably a name for it but I don't know what that is. It looks like the outside is a hollow cylinder, which slides onto a close-fitting, solid, inner cylinder on which it can swivel. A disc is then bolted on the outside of the inner cylinder to keep the outer cylinder in place. In the photo you can see the allen bolt that accomplishes that.
 
Andrew,

Your response was more than helpful. Thank you so much for your input!

My gratitude,

Steve