Question

What is a due bill

Answer 1

A due bill is a financial instrument that represents an obligation for payment or delivery of a particular security or asset. It is typically issued when there is a change in ownership or distribution of a security, such as during a stock split, dividend distribution, or merger/acquisition. The due bill serves as a temporary evidence of ownership or entitlement until the actual transfer takes place. It ensures that the rightful owner receives the distribution or benefits associated with the security.