Notary documents are one of the most powerful legal documents;however, even a notary must secure a license from the US government to do business. For that to happen, a notary bond is necessary. Notary Bonds ensure that the notary will perform their duties just as intended, steering clear of any fraud or investigation.
The public and federal government are the two most important groups that need protection from any unintended activity of a notary.
Types of Fraudulent Activities Covered Under the Bond:
- False or duplicitous signatures
- Any document that can benefit the notary
- Fake family member documents
Each state usually follows their own set of rules regarding surety bonds. As a notary or someone who deals with them,it is vital to understand the guidelines before getting started.
How Does a Notary Bond Work?
For financial transactions to go through, you need a notary to approve the signatures on a document. This ensures that all the parties involved are genuine and don’t intend to do any fraud. There can be times though, when a document may be forged,or someone may be impersonating another person.These kinds of activities put financial burden on the notary, and subsequently on the individuals or the federal government. A notary bond protects against these fraudulent activities and will reimburse for any loss. The surety company will reimburse the oblige and the notary will have to pay the surety company back.
What is the Process to Secure a Notary Bond?
Surety companies can help issue you a notary bond. Thanks to the advancements in technology, you can find a surety company that will issue a notary bond online within a few hours.