0Binding is a process of matching function calls written by the programmer to the actual code (internal or external) that implements the function. All functions called in code must be bound before the code can be executed.
Early binding is a process of binding matching function calls written by the programmer to the actual code that implements the function at compile time
Late binding is a process of binding matching function calls written by the programmer to the actual code that implements the function at run time
Early Binding benefits:
The use of Intellisense,
The use of constants,
Use of the Object Browser,
Help using F1.
Late Binding benefits:
Does not require declaring reference libraries.
Does not suffer from versioning issues.
Drawbacks of Late Binding:
Loss of Intellisense during development.
No constants.
Late binding is slower than early binding.
