Time Slips are an interesting concept, and even in this field require some stretches of the imagination.
The basic concept behind the time slip is that there really is no “Time” in the sense that we’ve all come to understand it. Or more to the point, time exists in a non-linear form. What’s meant by that is that the past, present and future all exist simultaneously on separate planes or in different dimensions.
Following this logic, time slips occur when we somehow breach the barrier between those realities (planes or dimensions) and experience a different “Time” than the one in which we normally exist. This is usually what's meant when people use the term “Fabric of time”, referring to a fabric which can be torn…
Based on reported incidents time slips occur far more often than you might think. In fact they may occur even more than that since many reported incidents of extra-terrestrial contact may actually be time slips. The attributes of many of these events are very, very similar and involve lost periods of time ranging from seconds to days.
Some of these reports involve objects from the past which appear for a time in the present in pretty amazing degrees of reality. I recently read a story about a couple who spent the night at a very old fashioned hotel only to find out later that the hotel at that location had been gone for years.
Another factor to consider is that many of us may have experienced this phenomenon without even realizing it. Have you ever had a dream in which you were in a familiar place but it seemed very different somehow?