Notaries accept a lot of responsibility in their activities. They authenticate agreements and transactions that may involve important legal obligations of considerable sums of money. It is imperative that notaries stay highly organized and businesses that employ them have stringent policies and procedures.
Professional Duty of Care
Notaries must remain compliant with many state laws about notarization. They need to learn and follow rules about licensure, procedures for notarizing documents, and recordkeeping . The methods that they use to stay organized and safeguard themselves against liability are important. These measures should be consistent with the high duty of care that they owe to their clients.
Banks, property managers, and brokerages like to have public notary services at the ready so that people can complete transactions with ease. Many of these businesses do not charge a fee for these services. However, they take on substantial risk in offering this service. An insurance policy that addresses professional liability is a vital tool for managing this risk.
Notaries who work for themselves as well as notaries who work on behalf of a corporation must be highly conscientious about their job duties. Thorough training and strict adherence to state law will help to assure that notaries serve their clients with a heightened duty of care and avoid serious liability exposure.