What are deciding factors to use reflection and late binding instead of direct references for a class?

I want to explore the uses of late binding as we do in C#.NET. The late binding involves -

• Loading an assembly


• Getting a type


• Creating instance OR Late binding

But are there any cases of using reflection and late binding over using the direct reference of an assembly if both are available?

PS: In other threads of Late Binding we have more information on what these are and comparisons but not this.