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Definition of Bind on equip
1. Adjective. (online gaming) Describing a piece of equipment (armor, weapons, accessories) that becomes bound to a player character when equipped by them. The player may sell/trade/give it to another character so long as they have not used it. After use, the player may only sell it to an in-game vendor or discard it, destroying the item. Used mainly on quest rewards and moderate to rare drops. Compare to bind on pickup. ¹
2. Verb. (context: online gaming of a piece of equipment) To become permanently associated with a player character upon being equipped. ¹
¹ Source: wiktionary.com