Legal Dictionary of Pakistan

date of issue

1. Commercial law. An arbitrary date (for notes, bonds, and other documents in a series) fixed as the beginning of the term for which they run; the date that a stock or bond bears on its face, not the date on which it is actually signed, delivered, or put into circulation. ( When a bond is delivered to a purchaser, it is considered "issued." But this concept is distinguishable from the "date of issue," which remains fixed, regardless of the date of sale or delivery. 2. Insurance. The date specified in the policy as the "date of issue," not the date on which the policy is executed or delivered, and regardless of other dates that may be specified in the policy or elsewhere, such as the date that the policy is to "take effect."