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Tremol-no small clamp chrome

This  device allows you to switch between fully floating, dive-bomb only or fixed bridge mode. Dive-bomb mode can be useful when you don't need floating mode because even if you break one string the others will stay in tune. Fixed bridge mode works good when bending strings because bridge doesn't move and affect tuning.
It has three main parts: a shaft, a small block, a big block. Big block is clamped onto the tremolo block and it slides across the shaft as tremolo moves. When those two thumbscrews (or one of them) are tightened they lock the block to the shaft thus preventing the tremolo from moving. That is how you get into fixed bridge mode. When small block is not tightened to the shaft it can freely slide. To switch to dive-bomb mode just move it right next to the big block and tighten the screw (fixed block screws should be lose). That will allow the tremolo to move in one direction, but small block will not allow it to go the other way.