Learn more about notary public surety bonds, and apply today. Absolute Surety offers surety bonds nationwide through a convenient online application system.
What Are Notary Public Bonds?
Most states require a notary public to purchase a surety bond as part of the process of becoming licensed or renewing a license. These bonds protect the public from financial loss due to the mistakes, misconduct, or fraudulent acts of a notary public.
Who Needs Them?
A notary provides two essential services to the public:
Verifying the identity of a person signing a document and witnessing the signature
Administering the oath to a person being deposed in a legal matter
Being granted a license as a notary confers a position of trust, and they are required to carry out their duties in accordance with very specific rules and regulations. In the majority of states, you’ll need to obtain a notary public bond as part of the process for becoming licensed or renewing your license.
How Do They Work?
This type of surety bond obligates the notary public to comply with all relevant rules and regulations governing their duties. Because of the potential for financial loss if a signature on a legally binding document later proves to be invalid, most states require these bonds as a guarantee that no innocent party loses out due to the actions of a notary public.
In the event of a notary’s mistake or misconduct, a file can be claimed against the notary public bond. The surety company will investigate, and if it finds the claim to be valid, it will pay the claim. Then, it will recover that amount from the notary.
Replacement bonding may be required if the original bond amount has been depleted by claims payouts.
Many notary publics protect themselves by purchasing errors and omissions insurance, but that is not to be confused with a notary public surety bond.
How Much Do They Cost?
Unlike the vast majority of surety bonds, notary public bonds are typically issued without a credit check or financial underwriting. The cost to the applicant is generally no more than $100 for a $10,000 bond.
Use our convenient online application form today to get the bonds you need.
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Phil Bell, So Cal Performance