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A Florida surety bond guarantees principal owners and the public that services will be performed with excellence and security. Florida legally requires a variety of contractors and organizations to secure bonds to conduct business across the public service industry. Single Source Insurance is a leading Florida bonding company. Apply easily online and take advantage of lowest rates. Browse the most common types of FL surety bonds, or contact us for a full list.
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Notary bonds are required as part of the process for obtaining a commission as a Notary Public from the Florida Department of State, Notary Commissions and Certifications Section. This bond requirement serves to protect the public from financial loss resulting from any unlawful, unethical, or negligent actions of a notary public. It also protects the state of Florida, which might otherwise be held responsible for having granted a commission to the notary public.
A notary public�s duties are twofold: 1) verifying the identity and witnessing the signature of a person signing a document and 2) administering the oath to a person who is about to give a deposition in a legal matter. A notary bond guarantees that the notary public will comply with all of the rules and regulations governing this position of trust.
Anyone applying for a commission as a Florida notary public needs to purchase this bond in the amount of $7,500 from a surety bond company licensed to operate in Florida. The commission term is four years, after which time you must apply for a new commission and purchase another bond.
The three parties involved in a Florida notary bond contract are:
The surety�s responsibilities include more than simply issuing the bond. Completed applications for a notary public commission are actually submitted through the surety, and when the commission is approved, the surety will issue the commission certificate and notary seal to the principal.
A person who is harmed by a notary public�s mistake or misconduct has the right to file a claim against the principal�s notary bond. For example, if a notary public fails to confirm the identity of a person signing a lease that later turns out to have been signed fraudulently, the landlord can file a claim against the bond for rent left unpaid when that person skips out on the lease and can�t be located.
The surety will first confirm that the claim is valid and will then pay it, but that�s not the end of the story. The surety is not the legally responsible person, the principal is. The surety is protected financially by an indemnification clause included in nearly every surety bond contract and will pursue the principal for repayment of the claim amount advanced by the surety.
Most surety companies offer a fixed package price that includes the $39 state filing fee, the cost of the notary seal, and a bond premium that may be as low as $40. While the premiums for other types of bonds are nearly always based on the principal�s personal credit score and financial status, notary bonds are typically issued with no credit check or financial underwriting.
Make Single Source Insurance your one-stop solution for obtaining the Florida notary public bond you need and submitting your commission application to the state.
