Notary Bonding

It is essential for everyone who holds a position in public office, whether appointed or elected, to have Public Official Bonds. This guarantees that officials will faithfully and honestly perform their duties in the office. Like other surety bonds, they are a three-party agreement between the principal, the obligee, and the surety that underwrites the bond. That is why companies like Notary Bonding are a great source for surety bonds. Should you find yourself being elected as a public official, you will have everything you need to serve your citizens. A Public Official Bond helps keep citizens safe in the event you are unable to fulfill your duty. This means that if there are any direct financial losses, it will prevent them from being shouldered by taxpayers. Being an official in an office means having the right supplies to ensure all documentation is sealed by an official notary stamp . This important tool is vital as it has its own unique number and identification that ties it to

When it comes to your retirement plans, the last thing you want is to jeopardize your benefits due to some mistake or dishonesty in the past. That is why companies like Notary Bonding can help you protect the assets of your employee benefits packages. ERISA bonds will protect your employees in the event there is an incidence of fraud, theft, or dishonesty, so they are not affected individually. There are a few exceptions, such as unfunded plans, banks, and insurance companies conducting business under the authority and supervision of state or federal laws and examinations.  ERISA Fidelity Bonds have Maximum Coverage Limits There is a limit to the maximum coverage of an ERISA bond , which is $1,000,000 as of 2008 for officials of plans that hold employer securities. It is important to note that ERISA bonds are not the same as fiduciary liability insurance. It protects the employees from dishonesty, but it doesn’t protect employers from legal action. Sometimes though, unforeseen errors l