notary bond What Is a Notary Bond and Why Is It Important?
When serving as a notary public, trust and integrity are everything. Clients rely on notaries to witness and verify important documents such as contracts, deeds, and affidavits. To protect the public from errors or misconduct, many states require notaries to obtain a notary bond before they can begin their duties.
What Is a Notary Bond?
A notary bond is a type of surety bond that ensures a notary public performs their responsibilities honestly and in compliance with the law. It is a three-party agreement involving:
Principal – the notary public who is required to obtain the bond.
Obligee – usually the state or governing authority requiring the bond.
Surety – the bonding company that guarantees compensation if the notary causes financial harm due to negligence, fraud, or misconduct.
If a notary makes a mistake or engages in dishonest practices that result in financial loss, the injured party can file a claim against the notary bond.
Why Do Notaries Need a Bond?
Notaries deal with sensitive documents that can impact finances, property ownership, or legal rights. A notary bond provides protection and peace of mind by:
Protecting the Public – Clients are covered financially if the notary makes an error or acts improperly.
Ensuring Accountability – Notaries are more likely to follow laws and best practices when bonded.
Meeting State Requirements – Many states mandate notaries to be bonded before issuing a commission.
Building Trust – A bonded notary appears more professional and reliable to clients.
Notary Bond vs. Errors and Omissions Insurance
It’s important to note that a notary bond protects the public—not the notary. If a claim is paid out, the notary is responsible for reimbursing the surety company. For added protection, many notaries also purchase Errors and Omissions (E&O) Insurance, which covers their personal liability.
How to Get a Notary Bond
Obtaining a notary bond is a straightforward process:
Apply through a licensed surety bond provider.
Pay the premium (usually an affordable one-time cost).
File the bond with your state’s commissioning office.
Once secured, you can legally perform your notarial duties.
Conclusion
A notary bond is essential for protecting the public, ensuring accountability, and complying with state laws. Whether you’re a new notary or renewing your commission, securing this bond demonstrates professionalism and responsibility. By having the right bond in place, you not only safeguard the public but also strengthen trust in your notarial services.