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Oct 18, 2023 · A surety bond is a contract between three parties: Principal, which is the business buying the bond. Obligee, which is the client requesting the bond. Surety, which is the company that...
Texas law requires all Notaries to purchase and maintain a $10,000 Notary surety bond for the duration of their 4-year commission. The Notary bond protects the public of Texas against any financial loss due to improper conduct by an Texas Notary. The bond is NOT insurance protection for Texas Notaries.
Surety bonds provide financial guarantees that contracts and other business deals will be completed according to mutual terms. Their primary purpose is to protect consumers and government entities from loss due to poor workmanship, malpractice, theft and fraud. What Is an Example of a Surety Bond?
