Protecting yourself with a contract
It is common for big companies to make the little guys sign a contract with many terms for doing business. One common term is to have an arbitrator resolve issues, and the arbitrator is probably picked by the company in question — how fair!!! ……. Not! But, how often do the little guys think far enough ahead to protect themselves? I say that notaries need to make signing companies sign something that will protect the notary’s interests. But, will anyone sign it out of desperation? If they like the notary enough, they might, but if you are a novice with no experience, you will not have such good luck.
Here are terms that I would discuss.
Trip Fees
If I am assigned a signing agent / notary job by your company, and travel to an assigned location, and the job is cancelled while in travel, I want a $50 trip and preparation fee. I want $75 for jobs more than 40 miles from my house according to mapquest’s mileage estimates.
Printing Fees
If I am assigned a signing agent / notary job by your company , print out documents and borrower’s copies, and then your company cancels, I want a $40 printing fee. (it might not be worth this much, but you have to factor in the hassle of billing these clowns and trying to collect).
Payment regardless of funding
If I am assigned a loan signing job by your company, and I complete the signing, but the loan doesn’t fund, your company must pay me $100 per signing.
Payment regardless of if the borrowers are willing to sign
If I am assigned a loan signing job by your company, arrive at the specified location, and start a signing with the borrowers, and then they change their mind about signing and refuse to sign, your company must pay me the entire fee agreed upon.
Waiting time
If I am assigned a loan signing job by your company, I will allow up to 60 minutes for the job. If the borrowers want to read every letter of every word in every document and take in excess of 60 minutes, I require a waiting time fee of $40 for every additional 30 minutes, or any fraction thereof.
Late payment penalties
I expect to be paid within 30 days for all loan signing services. If a payment is post-marked late than 30 days from the date of the signing, I will charge a late fee of $25 per signing, and then an additional $25 for each fifteen days after. If you fail to pay this late fee, I will terminate services with your company.
I think that notaries are fools to just be willing to do business with anyone without even background checking them. On the other hand, a contract like the one I drafted (written in informal language and not legalese) might be too demanding, especially the waiting time. Perhaps a more liberal contract should be drafted, but notaries need to take protecting themselves a lot more seriously and get more professional and methodical about it. Bigger companies almost always make you sign a contract, why shouldn’t you?
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Which states allow e-notarizations?
What states allow e-notarizations or e-notaries?
The status of being an electronic notary is a very new and very misunderstood profession or office. To be an e-Notary, so you can do e-Notarizations, is often a completely different type of commission in many states. Another fact to understand is that e-Notarizations can not (or can not always) be done for Deeds or other documents that effect real property. The biggest issue that bothers notaries about e-Notarizations is that the signer doesn’t always have to appear before the notary to receive an e-Notarization. The first time a signer is notarized, they should appear before the notary, but in some states, the subsequent e-notarizations may or may not require physical presence.
e-Notarizations require the use of an electronic journal (ENJOA). The signature of the signer would go in that journal.
An e-signing is normally done with a physical journal and done in the presence of a notary public. The documents might be signed online, or at least most of them signed online. However, the signer woudl still appear before the notary public and sign a physical journal of notarial acts.
Here are the states that currently allow e-notarizations. The rules for e-Notarizations might be very different from state to state.
California, Colorado, Florida, Michigan, New Mexico, North Carolina, Texas, Utah, Virginia, and Wisconsin.