Gnomish
hemp
noun. a band, bond; cord
heb-
verb. to bind, bind round
Beware, older languages below! The languages below were invented during Tolkien's earlier period and should be used with caution. Remember to never, ever mix words from different languages!
A noun appearing as G. hemp “a band, bond - cord” in the Gnomish Lexicon of the 1910s based on G. heb- “bind” (GL/48), from the early root ᴱ√HEPE of similar meaning (QL/40).
Neo-Sindarin: In Tolkien’s later writings √KHEP meant “keep”, but I think it could still be the basis for this word. I would use ᴺS. hemp for “band, bond” as metal, leather or cloth strip holding something, but for “cord” I would instead use [N.] nordh.