Comprehensive Guide To Notary Bonds And How To Apply, Today
As a notary public, you have to spend a lot of time dealing with legal information and documents. Due to the fact that a notary has so much authority, he/she is oftentimes required to acquire a notary bond. In fact, this type of bond (court bond) is usually required, before any notarizing of documents can be initiated. This is why it is important that you understand what a notary bond is and how it can protect you. Below, you will learn more information about notary bonds.
What Does A Notary Bond Do?
A notary bond not only protects the clients involved in the legal situation, but it also protects the notary and the court system. For instance, if there is an error or typo on the documents that are being notarized, then the bond will come into play. The bond also protects against fraud or unethical business practices. It is important to take these bonds seriously, because if you fail to comply with the terms and guidelines of the bond, you may find yourself having difficulty ever getting bonded again.
What Are The Cost Of Notary Bonds?
You should know that the cost of notary bonds is inexpensive, as compared to insurance premiums. With this being said, a notary bond still provides a large amount of coverage, but this will depend on the full amount of the bond. However, there are certain factors that can determine the cost a notary bond. The amount of time that you have been a notary public, your credit scores, and even the type of documents that are being notarized can play a huge role in determining the final annual rate.
How Do I Go About Applying For A Notary Bond?
As a notary, you will without a doubt find yourself in a situation, where you need to apply for a notary bond. This is why it is important that you understand how to complete the application process. The first and most important thing you are going to have to do is find a good reliable surety Bond Company. The best place to do this is online. You can search through tons of different companies, from the comfort of your own home, within a matter of minutes.
After you find the appropriate company, you can now acquire an application and fill it out. After your application has been approved, you will be required to sign the agreement and then pay the annual premium. Once the fee is paid, you will receive the bond in the mail, when doing this in person, you will receive your bond the same day. With that being said, you should know that this whole process can take a bit of time, because you will be required to undergo strict credit checks and screening processes.
Other Types of Court Surety Bonds we provide:
- Appeal Bond – Acquired prior to appealing a court’s judgment to have it overturned.
- Executor Bond (Administration Bond) – Protects victims against fiduciary dishonesty and misconduct.
- Probate Bond – Protects the interest of the obligee by demanding the principal to be bonded.
- Guardianship Bond – Acquired by an individual that wishes to be a guardian of another individual.