MDAC 2.5 SDK - ODBC Programmer's Reference
Appendix F: ODBC Cursor Library
An application can call SQLBindParameter to rebind parameters, as long as the C data type, column size, and decimal digits of the bound column remain the same.
The cursor library supports setting the SQL_ATTR_ROW_BIND_OFFSET_PTR statement attribute to use bind offsets. (SQLBindParameter does not have to be called for this rebinding to occur.)
The cursor library supports binding data-at-execution parameters.