That is per upload. You can also use Global_Inbound_Bandwidth but make sure you also enable "Scheduler_Update_Speed = HIGH". Neither of these are really tested by me lately.
On a per user basis you can use 'site change * limits <down> <up>' to set down/up limits for all users which gets you the same effect as Client_Inbound_Bandwidth provided you only have one "device" defined. To set limits for everyone but Master accounts use something like 'site change "!M *" limits <down> <up>'. Speeds are in KB/s.