binder
noun [ C ]
uk/ˈbaɪndər/ us LAW
a short document showing an agreement between a buyer and a seller, used for a short period while the complete document is being prepared:
a binder agreement
In the case of a real estate purchase, a binder contains the basic terms of the transaction.
A binder will give insurance coverage for a specified period of time until the actual insurance policy can be issued.
See also
cover note
WORKPLACE
a hard cover in which paper documents can be stored:
Your report will look more professional if it is presented in an attractive binder.
See also
ring binder