Notary bond is a guarantee that is provided to the public. It is a policy that protects public from unlawful acts, frauds and misconduct by the notary. The bond is purchased at price and act as insurance not for the notary but to the others with whom the notary has obligations. If the notary performs some wrong doings, the person suffering from the actions can file a claim on the bond and get coverage on damages upto $15,000. The notary has to reimburse the surety bond for all costs involved.
Need for Notary bonds in California
- It is compulsory for the Notaries in California to get a Notary Bond to engage in the business of witnessing on documents for signatures. Notary publics must post California Notary Bond of $15,000 before working as notary legally.
- By posting the notary bond, the notaries in California state pledge to work ethically and incompliance with all the state laws.
- The California Notary Bond also provides assurance to the client that they are protected. This brings not only reliability on you and your business but also adds reputable component to your name.
- The main purpose of the Notary Bond in California is to provide assurance to the parties from wrong doings of the principal. If the clients face any financial or any other loss due the misdoing of the Notary, the principal will face for all damages after the client file a claim.
The Notary Bonds in California is issued for a period of four years starting from Notary’s commission date. The bond amount is $15,000 whose premium is onetime payment for the duration of the commission. The Notary Bond can be purchased from any bonding or insurance company that sells surety bonds at a certain amount. The bonding company can guide the process to buy the bond if you take the Notary supply package that they offer.
