Business Dictionary :

Bind



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Bind : verb : to tie or to attach

• The company is bound by its articles of association.

• He does not consider himself bound by the agreement which was signed by his predecessor.


NOTE : binding - bound


Binder : noun :

(a) stiff cardboard cover for papers


Ring Binder = cover with rings in it which fit into special holes made in sheets of paper

(b) US : temporary agreement for insurance sent before the insurance policy is issued

NOTE : The GB English for this is cover note.


Binding : adjective : an agreement which legally forces someone to do something

• A binding contract

• This document is not legally binding.

• The agreement is binding on all parties = all parties signing it must do what is agreed.


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