Do you remember when corporations would make deals over the phone and then shake hands to finalize the agreement? When there was mutual respect and the willingness to do business, both sides felt comfortable.
No longer is an oral agreement sufficient; nowadays, contracts must be drafted, revised, agreed upon, signed, and notarized before they may be legally enforced. The notarization requirements of many sectors are met by in-house or remote notary stamp services. Some instances are as follows:
Automotive
Notarizations may be needed in some states when selling a car; however, this varies from jurisdiction to the next. There are several forms available, including title agreements, out-of-state purchase forms, and amendment forms. Notarization has become more complicated due to the rise in out-of-state vehicle purchases made possible by online car sales.
The title clerk is the primary notary at many car lots. But what if they aren’t available to notarize a document at the precise moment it needs to be notarized, or if the buyer cannot visit the dealership physically? An online notary is a viable option for many businesses, including car lots.
Banking and other financial services
A wide range of documents from local banks, insurance agencies, and other financial service providers require notarization. Notarizations may be necessary if an individual submits a claim, obtains a new policy, or transfers property. Public notary services are also available at several local banks.
While many customers appreciate this feature, those who need to use it may be disappointed if they visit a bank only to find that the notary is out of the office. Many banks have embraced online notary stamp technology to improve customer service.
Real estate
For a mortgage closing to go well, notarization is required. Documents pertaining to the sale of a home must be notarized before the sale may be finalized. Due to the significance of a mortgage closing, as many as six or eight persons, including the buyer, seller, lender, title agent, real estate agents, and notary, may be present.
A title agent may or may not be a notary public, depending on the circumstances. A notary public’s presence is required for the closing to proceed. There may be delays in the closing process if a notary is ill. The capacity to provide online notarization safeguards against such a scenario arising.
As a bonus, mortgage closings can be conducted entirely online with the help of a service, meaning no one involved in the transaction needs to physically visit an office to sign paperwork or have documents notarized.
Law Firms
Every day, a law company may be required to notarize a varying number of different papers, depending on the nature of the business. It is prudent for legal services providers to maintain not just one but multiple notaries on staff in order to ensure that their clients’ transactions go off without a hitch.
Since many attorneys working in businesses maintain very late hours, while a notary may only work during typical business hours, this creates a bottleneck that can be alleviated by employing an online notarization platform available around the clock.
