Bleed is a Time Magick spell that inflicts the Sap status. In the original version, the license is Time Magick 4, costing 35 LP. The spell itself costs 12 MP to cast. It can be bought in Rabanastre, and Eruyt Village for 1,100 gil.
In the Zodiac versions, the Bleed License is Time Magick 5 that costs 60 LP. It is available for the Time Battlemage job class. It is bought from magick shops from Jahara onwards, and found in a treasure in Trial Mode Stage 53 with the Diamond Armlet equipped.