A tool with replaceable parts is provided. In a preferred embodiment the hand tool comprises a set of hand operated pliers (10) that are adapted to have, removably attached to them, replaceable jaws (14 and 16) which are connected to handles (44 and 46) by means of connectors (18 and 16) which are in turn, adapted to be actuated by an actuating member of a retooling device (12). The retooling device (12) comes pre-loaded with the replacement jaws and connectors in one end of the retooling device. The retooling device first disengages the existing jaws (16 and 14) and connectors (18 and 16) whereupon they are securely stored one end of the retooling device (12), and whereafter, the remaining portions of the pliers (10) are inserted into another end of the retooling device (12) where the preloaded jaws and connectors are attached.
