A banding tool (10) is provided for tensioning a band clamp (12) around a protective shield (17). The tool (10) comprises a housing (20) having a hollow handle (22) and a head receptacle (34). Pivotally attached to the housing (20) is a pull up handle (116) and a cutoff handle (154). Received within the hollow handle (22) is a tensioning assembly (24) comprising a force storing device (26), a plunger (28), an adjustment screw (30) and a connecting rod (32). Attached within a head receptacle (34) of the housing (20) is a head (36). The head (36) contains a tension block (46) which is slidably received therein. A tension transfer lever interconnects the assembly (24) and the block (46) for tensioning of the band (13). The force storing device (26) is precompressed to approximately equal the desired tension on the band (13). Once the tension in the band (13) approximately equals the precompression of the force storing device (26), the operator is provided with a signal by the locking of the pull up handle (116). The cutoff handle (154) is then actuated to move a cutoff knife (180) into bending/cutting cooperation with a cutoff blade (86).