Collet chuck

"A collet (pronounced /ˈkɒlɨt/) is a holding device—specifically, a subtype of chuck—that forms a collar around the object to be held and exerts a strong clamping force on the object when it is tightened via a tapered outer collar. It may be used to hold a workpiece or a tool." Source: Wikipedia

Example of a collect chuck on an SMT bender

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