What Is a Notary Bond and Why is it Important

As you know, a notary, also known as a notary public, is a government-licensed professional who takes witness to an assortment of legal affairs and signing of documents. The National Notary Association defines a notary as a government-appointed official to serve the public as an impartial witness in performing a variety of official fraud-deterrent acts--notarizations, notarial acts--that are related to the signing of highly important documents. Since a notary’s job requires them to work closely with legal documents day in and day out, oftentimes, they are required to get a notary bond, also referred to as a surety bond. In most cases, it’s necessary for a notary to obtain a surety bond before they are allowed to start notarizing and...

Notary Bond vs Notary E&O Insurance

Notary Bonds and Errors and Omissions Insurance

What is the difference between a notary bond and errors and omissions (E&O) insurance?

A notary bond is a financial security document underwritten by a surety licensed in the state that requires it. Translated, the bond is there to protect the public in the event of financial damages caused due to improper notarization. A notary bond is not insurance for the notary. If you are forced to pay damages due to a notarization that you performed, the bonding company will pay up to the bond value amount, but the next thing the bonding company will do is come after you for the money. They are very efficient at collecting, which is why the...