There are various types and styles of wool pads.
1. 4 ply twisted wool yarn pad
(old "cutting" pad, not recommended for cutting of modern clearcoats.
2. 4 ply twisted wool/synthetic yarn pad
(modern "clearcoat" cutting pad, recommended to be used with a modern clearcoat comppound for the removal of deep scratches, color or wet sanding marks. Must be followed up with polishing pad and polishing product.
3.Lambs wool polishing pad. Not a yarn,the wool is not a yarn, it is the actual pelt of the sheep and should be a "orangish" color with the leather a tan. These are "tannic" processed pads. Very soft and not as agressive as "yarn" pads. Should never be washed in hot water or soap, clean only with a pad tool,(spur) made to be used on a rotary buffer.
These are the premium, perferred polish pads for lacquers, enamel and modern clearcoats for removal of light marring, hazing. $aprox $18 to $20 per pad and usuable life is normally 12 to 15 vehicles.
4. Various foam pads, available with various specialized foam cell structure. Range from "cutting" to fine "polishing" and x-fine polishing.
The polishing foams should be used to polish following polishing with a lambs wool pad.
These are not "bonnets", bonnets are either attached to the backing plate by the use of a "draw string" or an elastic band sewn around the edge. Can not be used at high speed with out their attempting to fly off the backing plate.
Hope this give all a little more information for your archives.
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