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Notary Bond

Notaries are essential in our society. Their work deters fraud and ensures that document signers understand what they sign and do so freely, without duress. Real estate, the judicial system, and probate courts all rely on notaries following the laws as they do their job.

To ensure that a notary always does their job faithfully, following the laws and ethical standards that apply to their field, most states require a notary to obtain a notary surety bond before they can legally conduct notarial business.

What is a Notary Bond?

A notary bond is a type of surety bond that guarantees a notary will follow the law and ethical standards through all their notarial acts. The surety bond acts as a risk-management tool that protects against the considerable harm a notary could do if they fail to follow the law.

The notary surety bond ensures lawful business conduct in two ways. First, it provides a financial incentive for the bonded notary to abide by all applicable laws and ethical standards. But it also creates a mechanism for damaged parties to recoup their losses from a notary who violates the law.

How Do Surety Bonds for Notaries Work?

Like any surety bond, surety bonds for notaries are legal contracts between three essential parties:

  • The Principal is the bonded person or business, in this case, the notary
  • The Obligee is the person, business, or government agency that requires the bond. A state agency requires notary bonds.
  • The Surety is the insurance company underwriting the bond.

If someone has been damaged by a notary's illegal or fraudulent actions, they can file a claim against the bond. The surety investigates every claim. The surety will dismiss any specious claim. But, if they find the claim has merit, the surety pays the damages up to the bond's total value. The principal is financially responsible for all claims paid on their behalf. The notary must reimburse the surety for the monies paid as well as fees, interest, and penalties.

Who Needs a Notary Bond?

Currently, 31 states require their notaries to be bonded. In these states, anyone who plans to become a notary must obtain a notary bond issued by a reputable surety agency to meet the state requirements. Because the bond is required as part of the licensing process, it is considered a license bond.

The following states require notaries to be bonded:

  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • District of Columbia
  • Florida
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Michigan
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Mexico
  • North Dakota
  • Oklahoma
  • Pennsylvania
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wisconsin
  • Wyoming

If you need a notary bond, the friendly surety experts at Viking Bond Service are here to help you!

How Much Does a Notary Bond Cost?

Sureties calculate bond premiums based on several factors that are used to determine how risky it is to issue the bond. Two of the main factors include the bond type and the bond amount. Notary bonds are considered a low-risk type of bond, which makes the premiums very affordable. In addition, bond amounts are also generally low, which also helps to keep premium costs to a minimum. Each state sets its own bond amount for notaries. The team at Viking can help you secure the right bond amount based on your location.

Do You Need to Renew a Notary Surety Bond?

Notary bonds are generally issued in four-year terms and must be renewed after each term period to keep the bond active. There's no need to mark your calendar, however. Viking Bond Service will notify you when it's time to renew the bond.

How Can I Get a Notary Surety Bond?

At Viking Bond Service, we make acquiring a surety bond quick and hassle-free. Simply complete our straightforward bond application online. We'll send you a competitive notary bond quote in as little as a few minutes. Or contact us online for more information or call us at 1-888-2-SURETY (1-888-278-7389). We're here to help!

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