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Wiktionary
bind on equip
  1. (context online gaming English) Describing a piece of equipment (armor, weapons, accessory) 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. v

  2. (context online gaming of a piece of equipment English) To become permanently associated with a player character upon being equipped.