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3rd Gen Ram Tech2002-2008 Rams: This section is for TECHNICAL discussions only, that involve the 2002 through 2008 Rams Rams. For any non-tech discussions, please direct your attention to the "General discussion/NON-tech" sub sections.
Yea it’s just some electrical tape on a crimped ring terminal but connects to amplifier and speaker.
Put it under the clamp with the main power feed. Some di-electric grease on it wouldn't hurt either. You WANT your amp to have a really good connection.
As far as the repair, its probably the best way I've seen anyone use those style connections, however in the over all long run crimp/solder is best. You may find after longer term use the clamp plates will heat and deform and loose connection creating more heat, deforming and corroding ect ect ect.