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 Tapes were originally open reels, but were superseded by cartridges and cassettes of many sizes and shapes.
Chromium dioxide or chromium(IV) oxide is an inorganic compound with the formula CrO2. It is a black synthetic magnetic solid. It once was widely used in magnetic tape emulsion. With the increasing popularity of CDs and DVDs, the use of chromium(IV) oxide has declined. However, it is still used in data tape applications for enterprise-class storage systems. It is still considered by many oxide and tape manufacturers to have been one of the best magnetic recording particulates ever invented.