Shortly returned bearing rope (5)
I believe the answer is:
noose
'rope' is the definition.
(noose is a kind of rope)
'shortly returned bearing' is the wordplay.
'shortly' becomes 'soon' ('soon' can be a synonym of 'shortly').
'returned' shows that the letters should be reversed in order.
'bearing' becomes 'e'.
'soon' written backwards gives 'noos'.
'noos'+'e'='NOOSE'
(Other definitions for noose that I've seen before include "A loop for the hangman" , "Device for capital punishment" , "Hangman's knot" , "Hangman's halter" , "Bond" .)