Article 24 of URDG says
and URDG Master explains it as followsd) When the guarantor rejects a demand, it shall give a single notice to that effect to the presenter of the demand. The notice shall state:
i. that the guarantor is rejecting the demand, and
ii. each discrepancy for which the guarantor rejects the demand.
e) The notice required by paragraph (d) of this article shall be sent without delay but not later than the close of the fifth business day following the day of presentation.
f) A guarantor failing to act in accordance with paragraphs (d) or (e) of this article shall be precluded from claiming that the demand and any related documents do not constitute a complying demand.
i would like to have your opinion on the aboveA guarantor failing to act in accordance with sub-article 24(d) or (e) is precluded from claiming that the demand and any related documents do not constitute a complying demand. The preclusion rule comes into play if the guarantor fails to give notice of rejection within the five business days following the day of presentation.
However, where there is a non-complying presentation and the guarantee expires before the end of the time allowed to the guarantor for giving notice of rejection, the guarantee automatically ceases to have effect and the preclusion rule does not operate. Where it is operative, the preclusion rule not only sets a time limit for notice of rejection, but also bars the guarantor who properly rejects for one discrepancy from rejecting a subsequent presentation for a different discrepancy in the original presentation but not contained in the notice rejecting that presentation.