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 Tapes were originally open reels, but were superseded by cartridges and cassettes of many sizes and shapes.
Essentially, you are recording on a magnetic material, where bits (a collection of magnetized particles) are laid out end-to-end. Longitudinal recording is the actual method of how the bits are recorded on disk platters.The direction of this magnetic charge is horizontal to the media, meaning the north and south poles of the magnetized particles are lined parallel to the surface of the disk.he mechanism that reads and writes data on a hard disk. longitudinal recording Longitudinal recording aligns data bits horizontally in relation to the drive's spinning platter, parallel to the surface of the disk. perpendicular recording. Perpendicular recording aligns data bits vertically. perpendicular to the disk.