IBindCtx
A binding context (IBindCtx) is an object that binds a moniker to its target. This happens under the hood when you call BindMoniker, which is the typical usage.
BindMoniker is actually a thin wrapper around IMoniker::BindToObject.
References
IBindCtx (objidl.h) - Win32 apps | Microsoft Learn BindMoniker function (objbase.h) - Win32 apps | Microsoft Learn IMoniker::BindToObject (objidl.h) - Win32 apps | Microsoft Learn