Royce Leather 1.5" Ring Binder (Black) First class Ultra Bonded Leather loose leaf binder with a 1.5 ring binder The fiber content of Royce Bonded Leather is 100 recycled cowhide fibers. The fibers are naturally bonded together by latex, a renewable resource derived from Hevea trees without creating harm to the trees. Interior features a half pocket and business card holder. 1 year manufacturer's warranty