Abstract: A compact tensioner/stopper device includes a fairlead which may or may not be part of the device. A set of inboard and outboard pawls are provided. The pawls are spaced and operate in a manner that at least one pari of pawls grabs the chain at any given time. This prevents accidental loss of the chain overboard. The chain is tensioned as the inboard pawls are engaged to the chain and actuated hydraulically to pull the chain inboard. Pulling inboard allows the outboard pawls to slide over at least one link and lock into place behind that link. The inboard pawls are stroked outboard over the next link to be grabbed, with the outboard pawls engaging the chain, the inboard pawls slide outboard to obtain another grip on a subsequent link and the process is repeated to conclude the tensioning. For deployment, the outboard pawls are retracted while the chain is retained by the inboard pawls. The inboard pawls are stroked outboard to pay out the chain.