diff --git a/doc/pset.mediawiki b/doc/pset.mediawiki
index 54428fc83d..da769b7169 100644
--- a/doc/pset.mediawiki
+++ b/doc/pset.mediawiki
@@ -24,14 +24,21 @@ This BIP is licensed under the 2-clause BSD license.
 
 ==Specification==
 
-The Partially Signed Elements Transaction (PSET) format is identical to the BIP 370 PSBT format.
-The changes are new proprietary type fields, a new magic sequence, and new roles.
+The Partially Signed Elements Transaction (PSET) format extends the BIP 370 PSBT format.
+The changes are new proprietary type fields, a new magic sequence, new roles, and changes
+to make some PSBT fields conditionally mandatory.
+
 The fields added for PSET are only allowed when the PSBT version is 2.
 
 For elements, the identifier prefix string is <tt>pset</tt>.
 Note that previous implementations of PSET used a different prefix string and had different fields.
 The use of a new identifier prefix is to avoid conflicts with the previous implementations.
 
+The following PSBT fields are made conditionally mandatory:
+
+# <tt>PSBT_OUT_AMOUNT</tt> is not mandatory once a transaction output is blinded
+# <tt>PSBT_OUT_SCRIPT</tt> is not mandatory for L-BTC fee outputs
+
 The currently defined elements global proprietary types are as follows:
 
 {|
@@ -60,7 +67,7 @@ The currently defined elements global proprietary types are as follows:
 | None
 | No key data
 | <tt><8-bit uint></tt>
-| An 8 bit little endian unsigned integer as a bitfield for various elements specific transaction modification flags. Bit 0 is the PSET Blinded flag and it is set to 1 to indicate that the PSET has not been blinded yet. Once all confidential values, rangeproofs, and asset surjection proofs have been attached to the PSET, it must be set to 0.
+| An 8 bit unsigned integer as a bitfield for various elements specific transaction modification flags. Bit 0 is reserved and should not be used. If it is set when reading a PSET, it should be ignored. This field defaults to 0 and should not be output if its value is 0.
 |
 | 0
 | 2
@@ -110,7 +117,7 @@ The currently defined elements per-input proprietary types are as follows:
 | 2
 |-
 | Issuance Inflation Keys Rangeproof
-| <tt>PSBT_ELEMENTS_IN_ISSUANCE_KEYS_RANGEPROOF = 0x03</tt>
+| <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS_RANGEPROOF = 0x03</tt>
 | None
 | No key data
 | <tt><rangeproof></tt>
@@ -140,7 +147,7 @@ The currently defined elements per-input proprietary types are as follows:
 | 2
 |-
 | Peg-in Genesis Hash
-| <tt>PSBT_ELEMENTS_IN_PEG_IN_GENESIS = 0x06</tt>
+| <tt>PSBT_ELEMENTS_IN_PEG_IN_GENESIS_HASH = 0x06</tt>
 | None
 | No key data
 | <tt><hash></tt>
@@ -173,14 +180,14 @@ The currently defined elements per-input proprietary types are as follows:
 | <tt>PSBT_ELEMENTS_IN_PEG_IN_WITNESS = 0x09</tt>
 | None
 | No key data
-| <tt><script></tt>
+| <tt><scriptWitness></tt>
 | The Peg-in witness for the Peg-in Transaction.
 |
 | 0
 | 2
 |-
 | Issuance Inflation Keys Amount
-| <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS = 0x0a</tt>
+| <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS_AMOUNT = 0x0a</tt>
 | None
 | No key data
 | <tt><64-bit int></tt>
@@ -194,7 +201,7 @@ The currently defined elements per-input proprietary types are as follows:
 | None
 | No key data
 | <tt><33 byte commitment></tt>
-| The 33 byte commitment to the inflation keys output value in this issuance. If provided, either <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS</tt> must be removed or <tt>PSBT_ELEMENTS_IN_ISSUANCE_BLIND_INFLATION_KEYS_PROOF</tt> must be provided too.
+| The 33 byte commitment to the inflation keys output value in this issuance. If provided, either <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS_AMOUNT</tt> must be removed or <tt>PSBT_ELEMENTS_IN_ISSUANCE_BLIND_INFLATION_KEYS_PROOF</tt> must be provided too.
 |
 | 0
 | 2
@@ -244,7 +251,7 @@ The currently defined elements per-input proprietary types are as follows:
 | None
 | No key data
 | <tt><rangeproof></tt>
-| An explicit value rangeproof that proves that the value commitment in <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS_COMMITMENT</tt> matches the explicit value in <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS</tt>. If provided, <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS_COMMITMENT</tt> must be provided too.
+| An explicit value rangeproof that proves that the value commitment in <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS_COMMITMENT</tt> matches the explicit value in <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS_AMOUNT</tt>. If provided, <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS_COMMITMENT</tt> must be provided too.
 |
 | 0
 | 2
@@ -268,7 +275,7 @@ The currently defined elements per-output proprietary types are as follows:
 | None
 | No key data
 | <tt><33 byte commitment></tt>
-| The 33 byte Value Commitment for this output. If provided, either <tt>PSBT_OUT_VALUE</tt> must be removed or <tt>PSBT_ELEMENTS_OUT_BLIND_VALUE_PROOF</tt> must be provided too.
+| The 33 byte Value Commitment for this output. If provided, either <tt>PSBT_OUT_AMOUNT</tt> must be removed or <tt>PSBT_ELEMENTS_OUT_BLIND_VALUE_PROOF</tt> must be provided too.
 |
 | 0
 | 2
@@ -383,12 +390,11 @@ For any output which is going to be blinded, the Creator must add the blinding p
 
 If any input is blinded, at least one of the outputs must also be blinded, i.e. it must have a <tt>PSBT_ELEMENTS_OUT_BLINDING_PUBKEY</tt>.
 Such an output can be a 0 value OP_RETURN output.
-Because blinding must occur, the Creator must set Bit 0 of <tt>PSBT_ELEMENTS_GLOBAL_TX_MODIFIABLE</tt> to indicate that blinding must be done prior to signing.
 
 The Creator decides whether and which inputs are issuance inputs.
 For those inputs, the fields <tt>PSBT_ELEMENTS_IN_ISSUANCE_BLINDING_NONCE</tt> and <tt>PSBT_ELEMENTS_IN_ISSUANCE_ASSET_ENTROPY</tt> are set.
 Such inputs must also have the issuance flag set in the outpoint of the input.
-The amount is added to the PSET input as <tt>PSBT_ELEMENTS_IN_ISSUANCE_VALUE</tt> and the amount for the issuance inflation keys output as <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS</tt>.
+The amount is added to the PSET input as <tt>PSBT_ELEMENTS_IN_ISSUANCE_VALUE</tt> and the amount for the issuance inflation keys output as <tt>PSBT_ELEMENTS_IN_ISSUANCE_INFLATION_KEYS_AMOUNT</tt>.
 
 The Creator decides whether and which inputs are Peg-in inputs.
 Peg-in inputs must have the Peg-in flag set in their outpoints.