Washington State Notary Bonds
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 Washington state notary bond needs.
What Are They?
A Washington state notary bond is a notary public’s pledge to carry out all notarial duties in compliance with applicable state laws. It protects the state against being held liable for having issued a commission to a notary who acts in an unlawful or unethical manner. The bond also provides a source of funds for compensating those who have incurred a financial loss as a result of a notary’s malfeasance.
The potential for loss is very real. Notaries play a vital role in fraud prevention by verifying the identities of people signing important documents that confer property ownership, control of assets, decision-making authority, and more. A forged signature on a will, deed, affidavit, or power of attorney could cause someone a great deal of financial harm. Requiring notaries to purchase a Washington state notary bond helps maintain public confidence in the value of notarization.
Who Needs Them?
In Washington, notaries are commissioned by the Department of Licensing (DOL). Anyone applying to DOL for commissioning as a notary public must purchase a Washington State Notary bond, which has the same 4-year term as a notary commission. A new bond must be provided when the commission is renewed.
A notary bond does not provide financial protection for notaries, only for those who are harmed financially by a notary public’s misconduct. A court-ordered award for such damages could greatly exceed the $10,000 required bond amount, or penal sum. That’s why it’s common for notaries to purchase errors and omissions insurance along with their Washington state notary bond.
Speak with a Surety Bond Professionals agent today to discuss your bonding needs.
How Do They Work?
The surety bond agreement for a Washington state notary bond is a legally binding contract involving three parties:
- The “obligee” is the DOL.
- The “principal” is the notary public.
- The “surety” is the surety bonding company.
The terms of the surety bond agreement legally obligate the principal to comply with certain laws and regulations and to pay any valid when found responsible for a violation that resulted in a financial loss. The surety, although indemnified by the agreement against responsibility for claims, typically will pay them and then be reimbursed by the principal. It’s a practice that ensures prompt payment to claimants and gives the principal some time to reimburse the surety, which often can be done in a series of installment payments.
What Do They Cost?
Unlike most types of surety bonds, notary bonds are not subject to underwriting and are sold for a small flat fee that can be as low as $50.
Get a Quote
Our surety bond professionals will get you the Washington state notary bond you need at a competitive rate.