The full form of COB is Close of Business. COB is also known as the EOD (end of the day) or (EOB) end of business/ (COP) close of pay /(EOP) end of pay. It designates the moment in time when a company is closed for the day. Take the case when your workday begins at 9:00 am. & closes at 6:00 p.m., you could declare COB at 6:00 p.m.
COB has no enforceable or legal value, and different industries may define it differently. For instance, the capital market employs it to denote the end of a business day. The timing of COB varies from country to country as well as from industry to industry. In the US, COB typically occurs at 5:00 pm, but in the UK, it typically occurs at 5:30 pm.
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