No Debit Note(s) can be prepared when the contract is subject to at least one Major Subjectivity but Debit Notes may be prepared and sent when there are minor subjectivities but these must be clearly shown in the Documents.
However, Debit Notes can be prepared and sent to the Client if Insurers specifically agree for PSC to issue Debit Notes notwithstanding the Major Subjectivity and provided the Major Subjectivity is (or are if plural) clearly shown in the Documents.
Debit Notes are to be prepared by the Account Executive and authorised per Appendix 5. The creation of a Debit Note will automatically create an entry on the statement for the Client. Debit Notes can only be issued to Clients approved by Compliance and entered in Websure and the name on the Debit Note must match the entry in Websure.
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