A binding mechanism system including a first support portion including a first ring portion located thereon and a second support portion including a second ring portion located thereon. At least one of the first and second support portions is movable relative to the other between a closed position wherein the first and second ring portions contact to form a generally closed ring, and an open position wherein the first and second ring portions are spaced apart from each other. The binding mechanism further includes an indicator that is generally visible when the ring portions are in one of the open or closed position and that is generally not visible when the ring portions are in the other one of the open or closed positions.