First, let's assume this is actually made for a 10mm tool and not a 3/8 inch tool. This is printed on the device and the label. Questionnaire I was given this to complement the 10mm shank Forstner bits and it works great for that purpose. The tool has a hex shank for mounting in a chuck and four set screws for mounting the tool. It fits the larger bits I use for hollowing out cakes that I turn on the lathe.