A notary is an official appointed position by the Secretary of State’s department in a given state. As with many public officials, the State specifies that the person get a surety or notary bond prior to getting their commission. This bond “makes sure” that if the official violates the public trust through negligence of their responsibilities, finances are available to indemnify the State for its loss.

The primary responsibility of notaries public is to ensure that the individual parties to an agreement are who they claim to be. The State may experience a loss if the notary public fails to properly ensure the identity of the parties.

As a public official, the notary violates the public trust by failing in their duty to confirm identity. If an Idaho notary public doesn’t confirm identity and a loss occurs, an injured party can file a claim against that State for their loss, because the State was negligent through its appointed representative.

A surety bond is a guarantee of payment to the obligee (the State) if losses occur for a penalty amount of the bond. Notary bonds are generally provided by a surety company (typically an insurance carrier). The bond usually runs concurrently with the period of the notary’s commission.

You’re probably familiar with a homeowners insurance policy. When you have an Indiana home insurance claim, the insurance company pays the loss and writes off the loss. You aren’t required to reimburse the carrier for the claim. Unlike a property insurance policy however, a notary bond is simply a promise that the funds will be available if losses occur. The surety (insurance company) pays the State up to the penalty amount of the bond. However, this claim paid by the surety is not simply written off. The company will most likely seek reimbursement from the bonded person, the notary themself.

A notary bond protects the public. Who protects the notary? Insurance coverage is available to provide this protection - it’s called Notary Public Errors and Omissions and may also be purchased for a nominal fee from insurance carriers.

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