Time bound is a goal or task that is measured or restricted by time. This means. That you would have only a certain amount of time to achieve that.

It could possibly be a few things. It is hard to be sure without a context. But most likely - it means 'subject to time limits'. You can try to get the car started, but you will be time bound. We need to leave for the airport at 4.

Maybe another answer has been deleted by sender!

Odd - this question shows as having two answers, but only mine shows up for me...