Patent ID: 7163361

Claim:
A cutting tool comprising: an insert holder comprising an insert pocket and a clamping portion, the clamping portion comprising a clamping jaw resiliently connected to a base jaw and forming a single integral piece therewith, the base jaw having an abutment surface and the clamping jaw having a clamping surface facing opposite a lower portion of the abutment surface, the clamping jaw being further provided with an insert stop surface that is generally transverse to the clamping surface; and a cutting insert resiliently retained in the insert pocket, the cutting insert comprising: a cutting portion and a locating portion, the cutting portion comprising a cutting edge formed at the intersection of a rake surface and a relief surface; an upper surface, a lower surface and a peripheral side surface therebetween, the peripheral side surface comprising: opposing forward and rear surfaces and opposing side surfaces extending between the forward and rear surfaces; the relief surface being located in the forward surface and the rake surface being located in the upper surface; the locating portion extends downwardly from the cutting portion away from the upper surface; the locating portion comprising opposing forward and rear locating surfaces, the rear locating surface being located in the rear surface and the forward locating surface being located in the lower surface; and a lower locating surface located in the lower surface and opposing the upper surface, and extending between the forward surface and the forward locating surface; and wherein: the abutment surface of the base jaw abuts the rear surface of the cutting insert; the clamping surface of the clamping jaw abuts the forward locating surface of the cutting insert; and the insert stop surface of the clamping jaw abuts the lower locating surface of the cutting insert.