Acquire and release parameters will tell you when the locks needs to be taken and release.
If you mention ACQUIRE(ALLOCATE) and RELEASE(DEALLOCATE) in bind step, that means locks will be taken on the tables (used in the program) when the thread started and locks will be released when the thread ended.
ACQUIRE has another value USE. It will allow to take locks when actually needed.
RELEASE has another option COMMIT. It will ensure to release locks when a commit occured even though thread is active.