Applicant

The party applying for the issuance of a letter of credit. It is also called the account party.

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Application

In a letter of credit, instructions from the applicant to the issuing bank to open it.

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Application to qualify

An application by a supplier to be included in an agency’s pre-qualified suppliers list. A supplier must prove it has the capability and capacity to deliver specific types of goods, services, or works to be included in the list.

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