Item revised and bound, making deadline (4,5)
I believe the answer is:
time limit
'deadline' is the definition.
(I've seen this before)
'item revised and bound' is the wordplay.
'revised' indicates an anagram.
'and' means one lot of letters go next to another.
'bound' becomes 'limit' (limit is a kind of bound**).
'item' with letters rearranged gives 'time'.
'time'+'limit'='TIME-LIMIT'
'making' acts as a link.
(Other definitions for time limit that I've seen before include "maximum duration" , "Deadline" , "Point before which something must be achieved" , "within which task must be done" , "Prescribed term" .)