Slotted Insert Bits has a magnetic screw lock system holder and the sleeve features a floating ring magnet for fastener retention, that minimizes drops and reduces wobbling. These Insert bits are designed for the most demanding applications in trade and industry. The elasticity of these bits prevents premature breakages of the tip of the tool. Each slotted insert bit is precision machined for ideal fit and superior holding power. Its slotted screw head design allows easy drilling/driving tasks in confined spaces and generally used in the electronics industry, household appliances, and industry screw equipment.