Chap devised lace restraint (7)
I believe the answer is:
manacle
'restraint' is the definition.
(I know that manacle is a type of bond)
'chap devised lace' is the wordplay.
'chap' becomes 'man' (chap can mean a man).
'devised' is an anagram indicator.
'lace' with letters rearranged gives 'acle'.
'man'+'acle'='MANACLE'
(Other definitions for manacle that I've seen before include "item restricting movement" , "Shackle on the wrist" , "Handcuff" , "Metal shackle" , "Hand/ankle restraint" .)