We use 1/8″ (0.125 inches) as our standard for both bleed and trim areas.
With respect to bleeds, this means your file should be set up so that your artwork is extended 1/8″ past the edge(s) of your document. You should also instruct your software to add trim marks before exporting to PDF.
With respect to the trim area, you need to be sure that important content is at least 1/8″ away from where we will trim. Our machines are precise but this provides a reasonable margin of error for printing and cutting.
Bleed settings are made in your Document Setup.
Important: Even if your file does not have bleeds, you still need to keep the 1/8″ trim area in mind.