(T2) The return of the transverse magnetization to its equilibrium value, zero.

The spin spin relaxation time is the time the spins need to dephase in the transverse plane.
See T2 Time, and Transverse Relaxation Time.

Contrast agents are chemical substances introduced to the anatomical or functional region being imaged, to increase the differences between different tissues or between normal and abnormal tissue, by altering the relaxation times. MRI contrast agents are classified by the different changes in relaxation times after their injection.
The design objectives for the next generation of MR contrast agents will likely focus on prolonging intravascular retention, improving tissue targeting, and accessing new contrast mechanisms. Macromolecular paramagnetic contrast agents are being tested worldwide. Preclinical data shows that these agents demonstrate great promise for improving the quality of MR angiography, and in quantificating capillary permeability and myocardial perfusion.
Ultrasmall superparamagnetic iron oxide (USPIO) particles have been evaluated in multicenter clinical trials for lymph node MR imaging and MR angiography, with the clinical impact under discussion. In addition, a wide variety of vector and carrier molecules, including antibodies, peptides, proteins, polysaccharides, liposomes, and cells have been developed to deliver magnetic labels to specific sites. Technical advances in MR imaging will further increase the efficacy and necessity of tissue-specific MRI contrast agents.

See also Adverse Reaction and Nephrogenic Systemic Fibrosis.

See also the related poll result: 'The development of contrast agents in MRI is'

Relaxation time is a general physics concept for the characteristic time in which a system relaxes under certain changes in external conditions. Relaxometry is the theory of relaxation times (spin lattice (T1) and spin spin relaxation (T2)), and their dependence on physical parameters such as magnetic field strength, molecular structure, temperature, pH, and the presence and type of relaxation agents.

The T2 relaxation time (spin spin relaxation time or transverse relaxation time), is a biological parameter that is used in MRIs to distinguish between tissue types and is termed 'Time 2' or T2. It is a tissue-specific time constant for protons and is dependent on the exchanging of energy with near by nuclei. T2 weighted images rely upon local dephasing of spins following the application of the transverse energy pulse. T2 is the decay of magnetization perpendicular to the main magnetic field (in an ideal homogeneous field).
Due to interaction between the spins, they lose their phase coherence, which results in a loss of transverse magnetization and MRI signal. After time T2 transverse magnetization has lost 63% of its original value. This tissue parameter determines the contrast.
The T2 relaxation is temperature dependent. At a lower temperature molecular motion is reduced and the decay times are reduced.
Fat has a very efficient energy exchange and therefore it has a relatively short T2.
Water is less efficient than fat in the exchange of energy, and therefore it has a long T2 time.

See also T2 Weighted Image and Magnetic Resonance Imaging MRI.