Schizoaffective bipolar type is when a person has distinct periods of psychosis of a certain amount of time outside of a manic OR depressive episode, but has demonstrated symptoms that meet the criteria of each of these episodes seperately.

So basically:
-Depressive episode? Check
-Hypo/manic episode? Check
-Symptoms of psychosis [i believe the minimum is two weeks, though it may have changed or I may be incorrect] distinct from a mood episode? Check
These all are possible factors that are often involved in diagnosing an individual with Shizoaffective, Bipolar Type.

Schizoaffective, Depressive type is similar.
However, the individual does not demonstrate symptoms of hypo/mania.

Schizoaffective can be a tough nut to crack, it can sometimes be difficult for doctors to discern from other disorders because of the many overlapping symptoms.

Of course, I'm going by the DSM IV TR description [but it doesn't much matter, you can get specifics from the healthprofessional who dx'd you]

This is a fairly informative site:
Schizoaffective Disorder

It provides ICD10 criteria, but the essentials about the disorder are really the same...
Psychcentral itself has quite a bit of information as well.
The most individual information and most relevant to you specifically, however will come from your treatment team, and that is a good place to start.