Magpowers systems manufactures spring applied fail safe brake type fsb, which incorporates a telescopic tubular wear adjustment system facilitating easy maintenance. Individual spring pressure adjustment permits precise setting of braking moment. Manual release is also provided enabling the brake to be released mechanically, in case of power failure. The brakes have short switching time and operate in milliseconds. Seals are provided to prevent the ingress of foreign matter, thus ensuring a long life and smooth functioning of the brake. Alternatively, these brakes can also be provided with spacers, wherein the air gap is preset and can be initially mounted without any adjustment.