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 Tapes were originally open reels, but were superseded by cartridges and cassettes of many sizes and shapes.
To quote wikipedia.com: Commonly known as  Teflon tape, PTFE tape, tape dope, or  plumber's tape â is a polytetrafluoroethylene (PTFE) film cut to specified widths for use in sealing pipe threads. The tape is wrapped around the exposed threads of a pipe before it is screwed into place.o quote wikipedia.com: Commonly known as  Teflon tape, PTFE tape, tape dope, or  plumber's tape â is a polytetrafluoroethylene (PTFE) film cut to specified widths for use in sealing pipe threads. The tape is wrapped around the exposed threads of a pipe before it is screwed into place.