We are going to start with an example:

A reactant; B Product
If we consider just: A ==> B, we have a direct rate. This tells us that A is consumed in the reaction and B is formed as a product.
As we have a reversible reaction, we can have another situation: B ==> A, then we have an indirect rate.
At a certain time and we can say infinite time, there will be no change in the amount of products and reactants. The rates of reaction for the forward (direct) and backward (indirect) reactions are the same which means that the reaction has reached an equilibrium.
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Always remember this: in equilibrium, the amounts of reactants or products no longer change and chemical equilibrium is a dynamic process.