Glossary Term: Confirmation Notice
A notice issued to BSC Parties regarding charges paid or received within two Business Days of the Payment Date. The Confirmation Notice legally constitutes a VAT invoice.
BSC defined definition
Within two Business Days after each Payment Date the Funds Administration Agent (FAA shall), on behalf of the BSC Clearer, issue a Confirmation Notice to each Payment Party in respect of that Payment Date setting out the information required in paragraphs 10.2 and 10.3 and any other information, if any, required for the purposes of any VAT and relevant European legislation.