To notaries public in Arizona, having a notary bond is crucial. They must obtain an Arizona notary bond before they can be appointed by the secretary of state. An Arizona notary bond is a major requirement, but its function and importance may be unclear to aspiring notaries public who will purchase it for the first time.
Frequently Asked Questions About Arizona Notary Bond
- What Is an Arizona Notary Bond?
An Arizona notary bond is a guarantee that a notary public will fulfill his/her duties and complete his/her tasks in accordance with the law. If the notary public neglects his/her obligations, there will be funds to compensate for the resulting loss or damage. The state and/or the party harmed by the notary public’s negligence can file a claim against the Arizona notary bond.
An example of this is when a notary fails to validate the identities of the parties in a transaction. Let’s say John is buying a home that Dave currently has the title to. They call on a notary public with an Arizona notary bond to notarize their signatures in a document to turn over ownership.
The notary is in a rush and does not check any ID before they sign. It turns out that “Dave” is actually Carl, who is only renting the real Dave’s property. Dave can file a claim against an Arizona notary bond because the notary’s negligence resulted in his property being sold against his will.
- Why Is an Arizona Notary Bond Needed?
Whether notaries public are new to the service or about to renew their licenses, they must have an Arizona notary bond before they begin notarizing documents. Notaries are entrusted with many legal documents. Because they work with sensitive information and possess a large amount of authority, an Arizona notary bond is needed to ensure that they will not violate the public trust.
- How Can an Arizona Notary Bond Be Obtained?
A notary public must purchase an Arizona notary bond from a reputable bonding agency that is approved by the state. Fortunately, an Arizona notary bond is usually approved instantly. An Arizona notary bond often only requires the notary public’s name and address.
- What’s the Difference Between an Arizona Notary Bond and an Insurance?
When you purchase an insurance policy, you are protecting yourself against a loss. Meanwhile, an Arizona notary bond is meant to protect someone other than its buyer and is a guarantee to make a payment against a loss.
For example, if you purchase auto insurance and your car gets damaged in an accident, you can file a claim and the policy will reimburse you. Meanwhile, if a notary public purchases an Arizona notary bond and fails to verify signatures in a contract, his/her client can make a claim and be reimbursed for damages.
- When a Claim Is Made Against an Arizona Notary Bond, Will the Notary Public Need to Reimburse the Bonding Company?
Yes. An Arizona notary bond mainly serves to protect the clients of notaries public. That means if a bonding agency has to make a payment on an Arizona notary bond claim, the notary will be responsible for reimbursing them for the amount paid on his/her behalf.
- Is an Errors and Omissions Insurance Required to Be Purchased Alongside an Arizona Notary Bond?
No, a notary public does not need to obtain an errors and omissions insurance (E&O). Only an Arizona notary bond is required by law. However, an E&O is highly recommended since it shields the notary public and his/her company against lawsuits. It’s different from an Arizona notary bond, which only protects the notary public’s clients.
Do You Want to Learn More About What an Arizona Notary Bond Is?
If you want more information on what an Arizona notary bond is and related topics, contact Alliance Bail Bonds. We are knowledgeable about the different types of bonds, and we’d be willing to answer any of your questions.
Alliance Bail Bonds: Your Partner in Navigating the Bail Bond Process
Those who are charged with an alleged offense and put in police custody are often required to post bail if they want to get out of jail. While seemingly straightforward, the procedure is not without challenges. That is because the bail amount asked of the accused is normally beyond the financial capacity of most people. Fortunately, he or she can call in a bail bond company for technical and financial assistance.
Alliance Bail Bonds is committed to providing top-notch bail bond services to clients in Mesa, AZ and nearby areas. If you have a loved one who is under arrest and likely to be held over until trial, you can count on us to help with the jail release. Our friendly and skilled bondsmen have a solid background in bail bonding, and they can walk you through the procedure with unwavering patience and efficiency.
How Bail Bonds Work
Bail is a process in which an alleged suspect is required to pay an amount of money, also called “bail,” to be released from jail. The court commonly sets bail at a high amount, which is why defendants or their family is often unable to pay it themselves. This is where bail bonds come in helpful.
Bail bonds refer to an agreement in which a bail bond company assumes liability for the full bail amount of a defendant. A bail bond agent, also called a “bondsman,” will charge the defendant a set fee (a percentage of the full bail amount) and then issue the bail bond to the court.
Because the bail bond company is on the hook for a hefty sum of money, the defendant must provide collateral (house, vehicle, firearm, or others) before a bond is issued. The collateral will be returned to the individual who pledged it if the defendant fulfills all financial obligations and court requirements. Meanwhile, the percentage paid to the bail bond company will be the service fee.
If the defendant fails to show up at court or “skips bail,” the bondsman can hire a bail recovery agent, also called a “bounty hunter,” to track down the accused and deliver him or her to the court. The defendant may also face foreclosure or lose the property used as collateral to obtain the bail bond. You can learn more about how bail works here: http://www.attorneys.com/felonies/how-does-bail-work
The Alliance Bail Bonds Difference
We understand the emotional strain and fear that come with facing a criminal charge and the commitment it requires. Our team is here to help so that your family member or friend does not spend more time in police custody than necessary.
Leveraging our background in the sector, we will answer your questions to the best of our ability, provide invaluable advice, and relieve you of most of your worries. We will not only be your bail bond professional but also your moral and emotional support at this difficult and trying time.
Ready to Be of Service to You Anytime
No matter the time of day, we are available to receive calls from our clients. We believe that no question or concern is too small, so we advise that you consult the professionals at Alliance Bail Bonds about any aspect of bail bonding. With their extensive experience and knowledge, our fully bonded and licensed bail bond agents will educate you on the best options to fund your bail bond needs.
Our Areas of Service
For solutions to your bail bond concerns, trust only Alliance Bail Bonds. We write bonds for clients in the following Arizona cities:
Turn to One of the Most Reliable Bail Bond Companies
Do you need to secure a bail bond for an accused family member or friend? Let one of our seasoned agents write and issue it for you. We at Alliance Bail Bonds will do whatever we can to help your loved one be on his or her way home to you. Get in touch with us today at 888-306-5364 (toll-free) or 480-306-5364. Click here to contact us.