Due diligence certificates require lead managers to verify issuer disclosures, registrations, escrow and lock in arrangements to protect investors. Standardised due diligence certificates require lead managers, debenture trustees and other intermediaries to verify material documents and disclosures, confirm intermediaries' valid registration, ensure promoters' written consent and non disposal of lock in securities, and confirm arrangements for escrow and separate bank accounts for issue proceeds. Certificates must state that the offer document contains all material disclosures, that funds are raised for objects within the memorandum, and include enclosures such as a due diligence note and a regulation wise compliance checklist.