What advantages does the dynamic binding give me? Do you have an example where early-binding does not work?

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When we started to support loading of IFC 4 we cannot generate geometry in early-bound style, because we have to work with different set of classes. So IFC wall in 2x3 scheme is different class of IFC wall of IFC 4 scheme and we decided to implement late-bound working with SDK to have the same code for geometry generation.

And of course this is quite simple to use late-binding importing data from IFC to application as the same code – this is main advantage.