Elasticsearch java api BulkRequest timeout

Hello everybody,

Say I create a BulkRequest which contains the following update operations:
BulkRequest br = new BulkRequest();
br.add(new UpdateRequest (id = "1"))
br.add(new UpdateRequest (id = "2"))
br.add(new UpdateRequest (id = "3"))
//the pseudocode contains three update requests, for documents with id's 1,2,3
and then I set:

I'm curious what does the above timeout mean in the context of my example. Does it mean that on the es side 20 seconds are waited until all three operations complete? Or does it mean that each update operation in the bulk request can take 20 seconds?

I'm using elasticsearch 2.3.3, java API.