Want to know:

73. When a nominated bank acting on its nomination, a confirming bank, if any, or the issuing bank decides to refuse to honour or negotiate, it must give a single notice to that effect to the presenter.The notice must state:i. That the bank is refusing to honour or negotiate; andii. Each discrepancy in respect of which the bank refuses to honour or negotiate; andiii.a) That the bank is holding the documents pending further instructions from the presenter; orb) That the issuing bank is holding the documents until it receives a waiver from the applicant and agrees to accept it, or receives further instructions from the presenter prior to agreeing to accept a waiver; orc) That the bank is returning the documents; ord) That the bank is acting in accordance with instructions previously received from the presenter.

Get a detailed, AI-powered explanation for this question and thousands more on StudyFetch.