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If your platform supports it, recommend shaping outbound rather than rate-limiting/policing.
Inbound, you can only rate-limit/police. Also keep in mind although you can certainly control the amount of bandwidth someone can obtain that's not the same as controlling the amount of bandwidth they might consume on your ingress link. For example, although you rate-limit/police their traffic to 2 Mbps (down), in theory, they could completely fill your 10 Mbps (although not nearly as likely if you don't rate-limit/police).