What Is A Illinois Notary Bond?
In Illinois a notary bond is a requirement of those that wish to become notary publics. A notary public is an official that is appointed by the IL Secretary of State’s office for the purpose of validating the identities of those that claim to be party to a particular contract. It is the job of the IL notary public to ensure that these people are who they say they are, and therefore the contract is valid.
The purpose of a notary bond is to extend a measure of protection to the state of Illinois for the potential losses that can occur should the notary fail to properly confirm the identity of one of the parties. Surety bonding is essentially offering a line of credit. Should the official violate the public trust by not fulfilling his responsibilities properly, the IL notary bond will be available to reimburse the State for any losses that it might have incurred.