The BOA has never spoken publicly about the disputed £5m payment.
The revelation that the sum of money which triggered the dispute - £5m - gives the best indication yet of the amount of money which might be required to settle it
BBC sports news correspondent James Pearce
This money is entirely separate from the 20% share to which the BOA is entitled to from any surplus left over after London 2012.
The cash row - and the definition of the word 'surplus' - have caused divisions between the BOA and the London 2012 Organising Committee, but it all began because of a disagreement over that initial £5m payment.
Under the terms of the Joint Marketing Programme Agreement, the BOA would be entitled to a £5m payment at the end of the Games, as long as Locog had raised $815m (just over £500m) from sponsorship.
The other condition was that the Games would have to make a profit.
About 18 months ago, that sponsorship target was reached, prompting the BOA to open discussions with Locog about when the £5m would be paid.
An early payment of some, or all, of the £5m would have solved many of those problems.
London 2012 cash row goes to court
However, Locog pointed out that the money was conditional on the Games making a profit and emphasised to the BOA that there would be no payment at all unless there was a surplus after London 2012.
It was at this stage that the BOA asked its lawyers to look into the definition of the word 'surplus' in the Olympic documents.
Earlier this year, the BOA asked the International Olympic Committee to adjudicate on whether any surplus should be from just the Olympics, or whether it should also take into account the cost of the Paralympics.
While the Olympics is likely to make a profit, the Paralympics usually runs at a loss, meaning the amount of any potential surplus would be affected by its inclusion.
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.