I am trying to find some upper and lower bounds for the following expression: $$\sum_{v=0}^t {{x-v}\choose{y}} \cdot {x\choose{v}}\cdot {z-x \choose {t-v}}$$ Given that $x-t>y>0,z>x+t,t\geq 1$.
Finding the exact expression can be done only by hypergeometric function, which is not easy to compute: https://www.wolframalpha.com/input/?i=approx+sum_%28v%3D1%29%5Et++%28%28%28x-v%29+choose+y%29*%28x+choose+v%29*%28%28z-x%29+choose+t-v
Using Vandermonde's identity, an upper bound is $${x\choose{y}}\cdot {z \choose {t}}$$ and a lower bound is
$${x-t\choose{y}}\cdot {z \choose {t}}$$
My question is there any better upper\lower bounds, that are more tight?
There exists a closed-form exact solution for the following summation $S$ proposed in the OP:
$$\sum_{v=0}^t \binom{x-v} y \binom xv \binom{z-x}{t-v}$$
As shown below, this is given by
$$S=\binom xy \binom {z-y}{t} $$
To prove this solution, we can start by writing the binomials using factorials. Collecting the fixed factors (i.e. the terms not containing $v$) out the summation and simplifying we have
$$S= \frac{x!(z-x)!}{ y!} \sum_{v=1}^t \frac{1}{(t-v)!\,(x-y-v)!\,\, (z-x-t+v)!v!}\\$$
Rewriting the factors of the denominator in a different way, we have $$S= \frac{x!(z-x)!}{ y!} \sum _{v=1}^{t} \frac {(-t)_{v}}{t!} \,\frac{[-(x-y)]_{v}}{(x-y)!}\, \frac{1}{(z-x-t+1)_{v}(z-x-t)!}\, \frac{1}{v!}$$
where $(k)_v$ indicates the Pochhammer symbol for rising factorial. Collecting the new fixed terms in the summation and noting that $(-t)_v/v!=(-1)^v \binom tv$, we have
$$S=\frac{x!(z-x)!}{t!\,y!\,(x-y)!(z-x-t)!} \\ \sum _{v=0}^{t} (-1)^v \binom tv \,\frac{(y-x)_{v}} {(z-x-t+1)_{v}}\\ =\binom xy \binom {z-x}{t}\\ \sum _{v=0}^{t} (-1)^v \binom tv \,\frac{(y-x)_{v}} {(z-x-t+1)_{v}}$$
The sum can be expressed by a hypergeometric function, reminding that this function is defined by the power series
$${\displaystyle {}_{2}F_{1}(a,b,c;d)=\sum _{n=0}^{\infty }{\frac {(a)_{n}(b)_{n}}{(c)_{n}}}{\frac {d^{n}}{n!}}}$$
and that when either $a$ or $b$ is a nonpositive integer it reduces to the finite sum
$$\displaystyle {}_{2}F_{1}(-a,b,c;z)=\sum _{n=0}^{a}(-1)^{n}{\binom {a}{n}}{\frac {(b)_{n}}{(c)_{n}}}z^{n}$$
So, setting $a=t$, $b=y-x$, $c=z-x-t+1$, $d=1$, and $n=v$, we get
$$S=\binom xy \binom {z-x}{t} \\ 2F_1(-t,y-x,z-x-t+1;1)$$
which is equivalent to the expression given by WA in the link of the OP, with the only difference that here the sum starts from $v=0$.
Now we can use the well known identity
$$\displaystyle {}_{2}F_{1}(a,b;c;1)={\frac {\Gamma (c)\Gamma (c-a-b)}{\Gamma (c-a)\Gamma (c-b)}}$$
to get
$$S=\binom xy \binom {z-x}{t} \\ {\frac {\Gamma (z-x-t+1)\Gamma (z-y+1)}{\Gamma (z-x+1)\Gamma (z-y-t+1)}} $$
and then
$$S=\binom xy \binom {z-x}{t} {\frac { (z-x-t)! (z-y)!}{ (z-x)!(z-y-t)!}} \\ =\binom xy \binom {z-y}{t} $$
As an example, let us set $x=6$, $y=2$, $z=10$, and $t=3$. The original summation gives
$$\sum_{v=0}^3 \binom{6-v} 2 \binom 6v \binom{4}{3-v}=840$$
as shown by WA here. Accordingly
$$\binom 62 \binom 83 =15\cdot 56=840$$
As another example with larger numbers, let us set $x=15$, $y=5$, $z=24$, and $t=8$. The original summation gives
$$\sum_{v=0}^8 \binom{15-v} 5 \binom {15}v \binom{9}{8-v}=226972746$$
as shown by WA here. Accordingly
$$\binom {15}5 \binom {19}{8} =3003\cdot 75582=226972746$$