An improved buckle device for a limited release application such as a pet collar, which includes a buckle assembly having a cover having a top with a downward turn release lip. The release lip, in the closed position, does not extend past the frame member and is recessed within the sidewalls and bottom wall of the frame. The cover includes high-positioned ledges that cause a cam latch to release a clasp from the buckle only when the cover has traveled at least about 80-degress from horizontal. The cover hingeably mounts to a frame by means of a pin. The latch is supported by the pin. Tension against the cover is provided by a first biasing member and the latch cam is forced downward by a second biasing member.