A spring-loaded sleeve and magnet locks the bit securely in the holder. The Quick Release (QR) function means changing bits takes seconds, simply pull the sleeve back to release. The holder maintains a high degree of accuracy and ensures concentricity when using hex drill bits. Even long screwdriver and drill bits are held securely in place. The Universal shank is compatible with all makes of tool including Festool's Centrotec. Supplied in either blue or silver.