Wisconsin 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 Wisconsin notary bond needs.
What Are They?
If you’re applying for a Wisconsin notary public commission for the first time, it’s important to understand what they are and how they work.
The kinds of documents that need to be notarized can sometimes be used for fraudulent purposes, so the work of a notary public plays an important role in preventing fraud. A Wisconsin notary bond is a notary’s pledge to comply with all applicable laws and ethical standards in carrying out notarial duties. Specifically, these notarial duties include:
- Verifying a signer’s identity.
- Witnessing the signing.
- Applying a seal or stamp attesting that the signature is authentic.
A Wisconsin notary bond protects the state of Wisconsin against financial liability for damages suffered by anyone as a result of the notary’s unlawful, unethical, or negligent actions, or even from a simple mistake. It also provides a source of funds for compensating an injured party who files a claim against the bond.
Who Needs Them?
Anyone applying for commissioning as a Wisconsin notary public must purchase a Wisconsin notary bond with the same four-year term as the commission. The required bond amount (the bond’s penal sum) is $500. That’s the maximum amount that will be paid out on a single claim.
A Wisconsin notary bond provides protection only for the state and the injured party. Because of this, it’s common for notaries public to buy an errors and omissions insurance policy for their own financial protection.
Speak with a Surety Bond Professionals agent today to discuss your bonding needs.
How Do They Work?
The surety bond agreement that is the basis for a Wisconsin notary bond is a legally binding contract between three parties:
- The “obligee” is the Wisconsin Department of Financial Institutions, which issues notary commissions and requires the purchase of the bond.
- The “principal” is the notary public who must purchase the bond to obtain a new commission or renew an expiring one.
- The “surety” is the bonding company that underwrites and approves the Wisconsin notary bond.
When a claim is filed against a Wisconsin notary bond, the surety will make sure that it’s valid and then pay the claim on behalf of the principal. However, it’s the principal’s legal responsibility, not the surety’s, to pay all valid claims. The principal is obligated to repay the debt to the surety.
What Do They Cost?
Wisconsin notary bonds have a penal sum of only $500, so bond applications don’t have to go through the underwriting process. They’re sold for a small fee that could be as little as $20 for the entire four-year term of the bond. Please note that the surety’s minimum premium threshold may apply.
Get a Quote
Our surety bond professionals will get you the Wisconsin notary bond you need at a competitive rate.