Timing belt: It transmits movements from the crankshaft to the camshaft. It keeps the engine synchronized.
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Serrated belt located in a precisely determined position that synchronizes the movements of the crankshaft with the movements of the camshaft so that it opens and closes the engine's valves when the timing is right. If it is not correctly attached, the cylinder head and the pistons may get seriously damaged.
This one i bought from a guy and it had a slight ticking sound when i first bought it. The sound fades at a certain RPM. Can say around 1500 RPM. I thought it was a lifter tick. But I'm suspecting that the timing chain is slapping against the front timing cover! Any more ideas?