From Longman Business Dictionary
bindbind /baɪnd/ verb (past tensepst and past participlepp bound /baʊnd/, present participle binding) [transitiveT]LAW if a legal agreement binds someone, it makes them promise to do somethingIf a person signs a document which contains contract terms, he or she is bound by those terms.
bind somebody to do somethingthe agreement with industry that binds companies to reduce the weight of packaging