Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all your Nevada notary bond needs.
What Are They?
Nevada requires notaries to purchase a $10,000 notary surety bond before a new or renewal notary commission can be issued. Because of this, Nevada notary bonds are classified as a type of license and permit bond—no bond, no commission. In purchasing the bond, the notary is pledging to carry out his or her notarial duties in accordance with the laws of the state of Nevada and the ethical standards of the profession.
The bond protects the public against financial harm resulting from a notary’s unlawful or unethical acts in carrying out notarial duties. It also provides a source of funds for compensating an injured party. Additionally, Nevada notary bonds protect the state against liability for having issued a commission to a notary who intentionally or negligently causes financial harm through an act of notarization.
Being held responsible for a financial loss because you made a mistake or had a lapse in judgment could be very costly. And a Nevada notary bond protects the state and the public, not the notary. That’s why the vast majority of notaries purchase error and omissions insurance for their own financial protection.
Who Needs Them?
Anyone applying for a notary commission for the first time or renewing an existing commission at the end of its four-year term must purchase a $10,000 Nevada notary bond with the same four-year term. However, purchasing the bond is only one of the requirements for becoming a Nevada notary public.
Speak with a Surety Bond Professionals agent today to discuss your bonding needs.
How Do They Work?
The surety bond agreement for a Nevada notary bond is a legally binding contract between three parties:
- The Nevada Secretary of State, as the party requiring the bond, is known as the “obligee.”
- The notary public, the party required to purchase the bond, is the “principal.”
- The bonding company approving the Nevada notary bond is the “surety.”
Any violation of the notary bond agreement can result in a claim against the notary bond. The principal is legally obligated to pay valid claims up to the $10,000 bond amount, also known as the bond’s “penal sum.”
In practice, however, the surety typically pays a claim on behalf of the principal, in effect lending the principal the necessary funds. The principal must then repay the surety, often through manageable installments rather than as one large lump sum.
What Do They Cost?
Nevada notary bonds are sold for a small flat fee, generally in the range of $40 to $50. Therefore, they are not subject to underwriting.
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Our surety bond professionals will get you the Nevada notary bond you need at a competitive rate.