1 the name of a person or a mark or sign representing his name, marked by himself or by an authorized deputy.
In this manner, what do you mean applicant?
a person who applies for or requests something; a candidate: an applicant for a position.
Similarly, who is applicant and who is beneficiary?
The Applicant is the person or company who has requested the letter of credit to be issued; this will normally be the buyer. The Beneficiary is the person or company who will be paid under the letter of credit; this will normally be the seller (UCP600 Art.