A standby letter of credit Answer Guarantees a customer\'s obligation to a third

Question

A standby letter of credit Answer Guarantees a customer's obligation to a third party. Guarantees a third party's obligation to a customer. Guarantees women's rights. Is used by banks to take over other banks. Is used by Federal Reserve member banks to apply for loans. A standby letter of credit Guarantees a customer's obligation to a third party. Guarantees a third party's obligation to a customer. Guarantees women's rights. Is used by banks to take over other banks. Is used by Federal Reserve member banks to apply for loans. Guarantees a customer's obligation to a third party. Guarantees a third party's obligation to a customer. Guarantees women's rights. Is used by banks to take over other banks. Is used by Federal Reserve member banks to apply for loans.

Explanation / Answer

Guarantees a third party's obligation to a customer.

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