Transferable Letter of Credit. This type of credit allows the seller to transfer all or part of the proceeds of the original letter of credit to a second beneficiary, usually the ultimate supplier of the goods. The letter of credit must clearly state that it is transferable for its to be considered as such.
Definition of:magnetic tape. A sequential storage medium used for data collection, backup and archiving. Like videotape, computer tape is made of flexible plastic with one side coated with a ferromagnetic material. Tapes were originally open reels, but were superseded by cartridges and cassettes of many sizes and shapes.
It turns out that cassette tape is made of a thin plastic layer, which holds a layer of ferric oxide. To put it another way, cassette tapes are using a material related to rus â¦ t. Being a ferromagnetic substance, ferric oxide stores a magnetic field we expose it to. Please see a detailed explanation in the link.t turns out that cassette tape is made of a thin plastic layer, which holds a layer of ferric oxide. To put it another way, cassette tapes are using a material related to rus â¦ t. Being a ferromagnetic substance, ferric oxide stores a magnetic field we expose it to. Please see a detailed explanation in the link.