The services of a notary public are often required to authenticate documents needed for official purposes. The notary public’s signature carries a lot of value and its presence on a document means that the document has been verified and is authentic to the best of his knowledge. Notary service cost is not fixed everywhere nonetheless. Each country has its own set of rules controlling the ideal compensation for notaries. Here are the factors which control notarization costs.
- State Regulations – This is the highest determining factor as notaries cannot go beyond the legal fees set by the state, at least not if their practice is legal and he or she has a license. Authorities usually have a high amount as notarization cost so that they cannot charge anything beyond that. This leads to some problems for the common man as authentication and verification of documents becomes an expensive process but it protects them from getting cheated. Any notary public who charges more than the state approved amount risks the possibility of having his or her license canceled and facing heavy fines. Information about state fixed notary prices is available at the secretary of state’s office. However, in Ontario and most Canadian provinces, fees of notaries are not regulated by the province or state.
- Other Services – Other services offered by a notary public are administering of oaths and acknowledgments of the same. For acknowledgments, notaries have to check the document submitted and verify it with the person submitting it and authenticate it by providing their signature and stamp. During oaths, a notary public remains the prime witness and ensures that the person taking the oath is speaking the truth. There are fixed, maximum amounts, decided by the state, which can be charged by the state for these services of the notary public.
- How to Increase Income – Since there is a limit to notary service cost set by the state laws, notaries public can expect only fixed income per service. However, there is no limit to how many services they can provide. Those keen on making more money from this work should try to get associated and build rapport with companies and individuals who are in need of notary services quite frequently. For example, real estate companies.
There are some calculations which you need to make before asking for a fee or taking up projects of notarization. In order to earn a profit from your work, you need to be calculative as you will need to pay a certain amount to the state before you begin to work. This amount is considered as ramification expense to protect your clients in case of any misconduct. However, this does not apply in the countries where notaries do not provide legal advice. For example, in Canada and the United States, notaries do not provide legal advice.
To know more about notarization cost in Canada, contact Victor Opara at 416-782-5926.