Most states require Notaries to obtain a surety bond before being appointed or commissioned. These bonds protect the public from damages resulting from unintentional mistakes or oversights by the Notary that cause financial harm.
Some offer state-required Notary bonds and Notary errors and omissions (E&O) insurance policies as part of our Notary bond renewal packages. Here are some key factors to consider when choosing a package:
Cost
Some states require every Notary to purchase a $5,000 surety bond to protect the public from an unintentional mistake or intentional misconduct on behalf of the Notary. As the nation’s notary bond leader, they offer this state-required bond and a notary stamp at a special bundle rate.
The cost of a notary bond varies by state, but it’s generally a relatively inexpensive way to ensure you don’t become personally liable for costly mistakes made while notarizing documents. Some also offer a package that includes errors and omissions insurance, protecting the Notary from paying for legal fees in case of a claim against their bond.
Once you receive your bonds, you must file them with the commissioning official or county clerk as specified by your state’s laws. For example, some offices require notaries to maintain a four-year, $10,000 bond during their commission term to guarantee they will complete duties ethically and comply with the law.
Convenience
A Notary bond is a financial guarantee Notaries buy from a surety company that guarantees they will complete their notarial duties ethically and in adherence to the law. If a Notary makes a mistake that causes a person financial harm, the bond will step in and pay for damages up to the amount of the bond.
To purchase an Illinois notary, Notaries must provide the name as it appears on their commission certificate, pass a required course, and pay the applicable state fee. The course is available online with on-demand video training, and instant proof of completion is emailed upon passing the course.
To perform an electronic notarization, Notaries must be able to see and interact in real-time with the document signer using audio-visual communication technology with security protocols. Rather than recommending specific platforms, some require Notaries to obtain confirmation that any platform they choose complies with the regulations’ requirements. For this reason, notaries are strongly encouraged to purchase a notary bond package that includes the necessary e-notarization training.
Customer Service
Notaries serve as impartial witnesses and fraud deterrents for legally significant documents like property deeds, marriage licenses, and adoption papers. They also act as a trusted resource for information regarding state requirements, filing fees, and other essential details. The standard package includes a notary bond, errors and omissions insurance policy, and additional best practice tools. It’s the best value for Notaries who want the most convenience, flexibility, and security.
Some states require renewing Notaries to take a course or pass an exam before filing for reappointment. It’s essential to know these requirements to begin the process in advance.
For example, some require that a platform used for Notary service must comply with specific standards. Notaries should ensure that their chosen platform complies with these requirements and obtain confirmation from the provider. In addition, some states allow Notaries to begin the renewal process up to 90 days before their commission expires.
Reliability
A notary bond is a crucial safeguard for the public that deters misconduct and holds notaries accountable for their actions. It ensures financial compensation for anyone who has suffered losses due to notary negligence or fraudulent activities. It also encourages notaries to follow their states’ regulations and uphold ethical practices.
In addition to a notary bond, notaries may wish to purchase errors and omissions insurance (E&O) to further protect themselves from claims made against them. E&O insurance is a specialized type of coverage that typically covers legal fees, settlements, and judgments resulting from a notary’s mistakes or oversights.
When choosing a notary bond renewal package, ensure it includes an error and omissions policy with a minimum of $5,000 in coverage. You should also check that the surety provider is licensed to issue bonds in your state and offers competitive rates. For the best experience, choose a provider that offers seamless transactions and expert guidance.
