I'm not familiar with this camera. I think the Burke & James Press uses a different fitting to fix the bed brace to the bed. In your picture, the sleeve is part of the aluminum bed, and it's visible that the outer edge of the sleeve is worn at an angle, possibly from years of the steel spring rubbing on it. That angle or resulting slop might be why the binding screw bent. Just something to watch out for. Check the other side as well.
A nice property of a binding screw is that when tightened, it has a fixed length, so it can form an axle without clamping the parts that need to pivot. In a pinch, you can make such a thing with a bolt and two nuts, however here, I suspect the thin head of the binding screw helps it clear the body when the camera is folded.