What is a Notary Bond?
If you are planning to become a licensed notary, then your state may require you to purchase a notary bond first. A notary bond is a type of surety bond that is obtained to guarantee to the state that you will comply with all state regulations regarding notary duties. Failing to meet those requirements could mean paying a penalty or something as severe as losing your notary license altogether.
With a notary bond, just like any surety bond, there are three entities: the principal, the obligee, and the surety.
The principal is the individual or business that must purchase a notary bond. The obligee is the state agency that requires a notary to obtain a bond. The surety is the company that provides the financial backing of the bond.
If the state believes that there has been some misconduct on the part of the notary, then they will file a claim with the surety against the bond. If an investigation concludes that the claim is valid, then the surety will make a payment to the obligee in an amount up to the total bond amount. The principal will then need to pay back any amount that is paid to the obligee.
What is the cost of a notary bond?
The state sets the requirement for notary bond amounts. You will be responsible for paying just a fraction of that amount as your annual premium for a notary bond. Request your free quote now and we will get you started on the process of obtaining your notary bond so that you can get licensed in your state as soon as possible. We can process your paperwork and payment over the phone and get your bond documents to you right away.
I still have questions about notary bonds.
If you still have questions about notary bonds, you can call and speak to one of our licensed bond agents. We are ready to answer any questions you have about the bonding process, and we can get you started over the phone. We can also provide information about any additional bonds that you may require for your business.