Restrict network connection speed for a client application

Is there any way (third-party tool) for restricting network connection speed of a given application?
So:
Network connection is over Internet, but high-speed connection, for example 512kbps
Server has higher speed connection for example 1024kbps
However, when two clients with 512kbps network connection connect to the server, they drain the bandwidth from other clients with slower connection.
Is there way to restrict connection, modifying neither server, nor client (don’t have control over them, just executables), preferably with program running on the client computers?
LVL 8
Zlatin ZlatevTechnical ArchitectAsked:
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JharperConnect With a Mentor Commented:
Cheapest I could find is Bandwidth Controller http://bandwidthcontroller.com/ for $49.95.

Jharper
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JharperCommented:
What sort of router / firewall are you using to connect to the Internet?
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Zlatin ZlatevTechnical ArchitectAuthor Commented:
Well assume that there is no specific hardware, also software firewall can be installed if needed
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JharperCommented:
I would recommend something like Packeteer's Packetshaper (www.packeteer.com).  You can manage all kinds of traffic with this application up to Layer 7.  I had a buddy using this in his environment and was very pleased with it's performance.

Jharper  
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Zlatin ZlatevTechnical ArchitectAuthor Commented:
Looks good. Do you know any free alternative to this product?
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Zlatin ZlatevTechnical ArchitectAuthor Commented:
GPL-ed or freeware/public domain
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Zlatin ZlatevTechnical ArchitectAuthor Commented:
OK, thank you.
Will leave it open for some days if someone else can help
Let me know after a week, if I have not assigned the points
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