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Retry Interval- No. Of seconds a business operation  job wait before doing next retry

FailureTimeOut - Total no. Of seconds a business operation Job keeps trying connecting destination.

We should keep this always greater that retry Interval. 

ConnectTimeOut - 

In case of FTP, a business operation job tries to connect FTP server till ConnectTimeOut for each attempt.

In case of TCP, a business operation job tries to connect to remote TCP listener till ConnectTimeOut for each attempt.

Ideally this has nothing to do with retry Interval, but we should take a logical call while setting this value and keep always less than FailureTimeOut.

No. Of reties may depend on the combination of these three values.