Section 2(1)(f) in The Central Electricity Regulatory Commission (Indian Electricity Grid Code) Regulations, 2010
(f)"Bilateral Transaction" means a transaction for exchange of energy (MWh) between a specified buyer and a specified seller, directly or through a trading licensee or discovered at Power Exchange through anonymous bidding, from a specified point of injection to a specified point of drawal for a fixed or varying quantum of power (MW) for any time period during a month;