YES

(VAR x y z)
(RULES
  apply(apply(t(),x),y) -> apply(y,x)
  apply(apply(apply(b(),x),y),z) -> apply(x,apply(y,z))
)

(COMMENT
Termination is shown by KBO with weight

  w0 = 1
  w(apply) = 0
  w(b) = 1
  w(t) = 1

and precedence:

  t > b > apply
)