Notary Bonding and Why It’s Important

 

As you may know, notary bonding is done by a notary public, a government-licensed professional who takes witness through a variety of legal affairs and the signing of documents. Since a notary’s job requires them to work closely with legal documents, sometimes they need notary bonding, also referred to as surety bonding. In most cases, it’s necessary for a notary to obtain a surety bond before they begin notarizing and overseeing important documents.

In other words, notary bonding is a financial security document that’s created by surety – a guarantor who is responsible for another guarantor’s performance of an undertaking and who is licensed in the state where it is required. The purpose of notary bonding–or surety bonding–is to protect the public in case of financial damages that are caused by incorrect notarization. In other terms, in the rare event a notary commits malpractice or fraud that could result in a client’s financial loss, the notary bond will protect that client. They can then file a claim against the company from which they received the bond for reimbursement of the money they lost. The notary at fault has to pay back the funds to the surety company once the client is reimbursed.

Comments

Post a Comment

Popular posts from this blog

What You Need to Know About Notary Public Seals

Image
A notary public cannot discharge his or her duties as commissioned without a vital piece of equipment – the seal. We’re going to discuss notary public seals in this blog post from Notary Bonding.  As a notary, you must use this device on every document that you notarize. Combined with your signature, these are critical elements of a notarized file. If the document does not contain your signature or your seal, it may be considered invalid.  Each seal, which can come in the form of an inked stamp or an embosser device, is your exclusive property and cannot be used by anyone else. It’s essential that you keep in mind that you should never stamp a document that you have not notarized. This improper use of your seal may even be illegal in your state.  When stamping a document, be certain to apply the seal in such a way that it can easily be read. Try to avoid typed wording and never stamp over signatures or handwritten content on the paper.  If you wish to discuss this topic further or lea
Read more

Keeping Your Notary Public Records Up to Date

Being a notary public in Texas carries significant responsibilities, including adhering to the state laws regarding personal information updates. Failing to do so leads to legal repercussions and duty disruption. Whether you changed your address or name, fill out the correct form and follow the Texas Secretary of State’s process to ensure it’s completed as soon as possible. Changing Your Name A notary’s name is a fundamental part of their identity. Any discrepancies between the legal name and the name on the notary commission lead to complications during the document signage. To update your name, fill out Form 2305, available on the Texas Secretary of State website, and submit it along with the necessary legal documentation. Upon approval, you’ll receive a new Texas notary commission reflecting your updated name and requesting you to order new official supplies.  Updating Your Address Keeping your address current is essential for receiving notifications and maintaining your notary bo
Read more

How to Become a Notary

Image
Notarization is an official part of some legal processes. From situations like closing on a home loan and vehicle title transfers, Notarization is important for preventing fraud and exploitation. Every day, thousands of Americans rely on a notary public to ensure that their most important legal documents are legitimate and valid, making the notary public a crucial position. The process of how to become a Notary is usually quite simple, and most people have the qualifications to do it—but it is an important position of responsibility that requires the right knowledge and the proper preparation. The specific required qualifications to become a Notary can vary by state. In most states, the qualifications are: Must Be 18 Years of Age or Older Must Be a Legal Resident of the State in Which You Apply Must Not Have Been Convicted of a Felony Some states have additional requirements, like being able to read and write in English. Many states also require notary applicants to take tr
Read more