The binder foot is used to apply pre-folded bias binding tape or bias tape you have cut yourself to the edge of fabric in one easy step.
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Sewing tutorials: Use of special sewing feet - Buscar con Google
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Snap on Adjustable Bias Binder Foot for Brother Singer Janome Sewing Machine New | eBay
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Janome - Accessories: Hemmer Foot Set .... This is why I need a new sewing machine:)