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 Tapes were originally open reels, but were superseded by cartridges and cassettes of many sizes and shapes.
Tape measure. A tape measure or measuring tape is a flexible ruler and used to measure distance. It consists of a ribbon of cloth, plastic, fibre glass, or metal strip with linear-measurement markings. It is a common measuring tool. Its design allows for a measure of great length to be easily carried in pocket or toolkit and permits one to measure around curves or corners. Today it is ubiquitous, even appearing in miniature form as a keychain fob, or novelty item. Surveyors use tape measures in lengths of ove