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 Tapes were originally open reels, but were superseded by cartridges and cassettes of many sizes and shapes.
Electrical tape, standard black. Electrical tape (or insulating tape) is a type of pressure-sensitive tape used to insulate electrical wires and other materials that conduct electricity. It can be made of many plastics, but vinyl is most popular, as it stretches well and gives an effective and long lasting insulation.