English term (edited): third party bound

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Depending on the context, you may have a different interpretation. Below you can find different definitions give by law dictionaries. Hope it helps.
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Black's Law Dictionary, 8th Edition:

bound
vb. To delineate a property boundary . Cf. BIND.


n. (usu. pl.) 1.BOUNDARY .2. A limitation or restriction on action .


adj.1. Constrained by a contractual or other obligation .2. (Of a court) constrained to follow a precedent .
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Black’s Law Dictionary 2nd:

BOUND
As an adjective, denotes the condition of being constrained by the obligations of a bond or a covenant. In the law of shipping, “bound to” or “bound for” denotes that the vessel spoken of is intended or designed to make a voyage to the place named. As a noun, the term denotes a limit or boundary, or a line inclosing or marking off a tract of land. In the familiar phrase “metes and bounds,” the former term properly denotes the measured distances, and the latter the natural or artificial marks which indicate their beginning and ending. A distinction is sometimes taken between “bound” and “boundary,” to the effect that, while the former signifies the limit itself, (and may be an imaginary line,) the latter designates a visible mark which indicates the limit. But no such distinction is commonly observed.
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BOUND
Obligated or required, frequently by contractual terms, sometimes used with regard to moral or ethical obligations or constraints.
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Merriam-Webster's Dictionary of Law

1bound
n
1 : BOUNDARY —usu. used in pl. ‹metes and bounds›
2 : something that limits or restrains ‹within the bounds of the law›
2bound
past and past part of BIND
³bound
vt : to form the boundary of or enclose ‹property bounded on the north by a stone wall›
4bound
adj : placed under a legal or moral restraint or obligation

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Note added at 21 hrs (2022-06-15 10:28:22 GMT)
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bound
در واژه نامه های حقوقی معمولاْ به صورت ملتزم ترجمه می شود و این عبارت نیز احتمالاْ به معنی ملتزم بودن شخص ثالث در قبال کاری است