Role and Necessity of Public Notary
There is a big and crucial role of notary public in law and business. Legal backing and proof is needed in almost all walks of life. A notary is needed if you want to migrate to another country, lease your property, adopt a child, purchase a new house or start a new business. Notary services are needed for all these and much more.
A particular government body appoints notary service. Many duties are administered by notaries. The chief power of a notary is conducting oaths, and attesting signatures. You can also take their services for witnessing translation of legal documents, for proving your identity and for third party cases. He puts the notary stamp or notary seal on every verified account. Notaries’ job is to minimize fraud in legal documents.
All licensed notaries and their employers are given notary public insurance which helps them to work with confidence. The policy given to them covers the notary which takes responsibility of any accidental mistakes. So, if a notary makes a mistake which leads to financial loss to the customer, the notary public insurance protects the notary.
Be prepared for a few tests and checks if you want to become a notary. Not everyone who applies for the post becomes a notary as the applicant needs to fulfill certain conditions. Only public is protected by a notary bond. Insurance providers provides notary bond. You can also submit personal property as security. If a bonding firm can recover the loss from you if it has to pay for a loss on a bond. It has the legal power to do so. Right from the starting, your claim is paid by the notary public insurance. In case of any error in the performance of notarization duties, the notary is saved from financial liability because of Notary public insurance. You will have to defend yourself with a legal bill if the suit is not convincing. The weight of paying those defense charges will fall on your pocket if you are not insured whether you win or lose. If a notary wants exclusive protection, he should purchase errors and omissions insurance (E&O).
If there is a settlement agreement, then the insurer only pays imposed damages up to the policy coverage limit. There are many policies by which the notary gets legal defense without additional expense. Notary insurance is required by many states for mobile signing agents too.
About the Author:
Author, John P. Gallagher is the President at Notary Service and Bonding Agency Inc. Notary Service and Bonding Agency Inc. offers everything one need to become a notary public in Michigan, Florida, Texas, Missouri, Illinois, Washington, Pennsylvania and other states. They are the online source for high quality notary supplies, stamps, notary public seals and notary record books
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