Notary Bonds

2007-07-24 08:31:47

( Legal )



What is a Notary Public?

When a public document is drawn up, someone needs to check and verify it to be true and acceptable. A notary public is a public official who has been given the authority to administer oaths and authenticate public documents.

Some countries require a notary public to complete a law degree, since the job entails evaluating the validity and legality of documents. In the United States, you can become a notary public even without taking up law. However, you need to undergo a one-day training seminar and pass a notary examination in order to qualify as a notary public.

After completing the requirements, you can apply for a notarial commission or a license to practice. You take an oath of office and pay the commission fee. Notary bonds, journals and seals are among the items you must acquire to be a full-fledged notary public.

Notary Bonds for Protection

As a notary, you are considered a public official and must therefore maintain the highest degree of integrity and sense of service. You need to get a notary bond as part of the process of getting a notary commission.

Like bid bonds or contract bonds, notary bonds protect two parties - the notary public and the client he serves. Notary bonds guarantee that as a notary, you will perform at your best and avoid errors and misdeeds at all costs. In particular, notary bonds provide some degree of insurance against damages resulting from errors or omissions during the notarization process, which are oftentimes unintentional but nevertheless unavoidable in some rare cases.

Each state has a specific requirement for the maximum insured amount of notary bonds, usually about a few thousand dollars. In case of notary-related problems, the surety company which issued the bond is liable up to this amount, and anything above it will be the notary's responsibility.

You can acquire a notary bond through surety companies that are accredited with your state's office. You pay a small fee to acquire the bond. The bond cannot be cancelled and is good for four years.


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