Latest News in the Notary Industry
Another day, another successful contract signed for one of your clients – or was it? Unless you are careful and are aware of the latest laws and news in the notary industry, you might have broken the law by failing to get the contract notarized. The reasons to get a contract signature notarized are widespread and they include the fact that notarization means you are adhering to the Federal Rules of Evidence, executing the correct duties of a notary public and leaving the perfect evidence trail. When you consider the fact that an evidence trail can lead to prosecutions and justice for particular cases, it is imperative that you understand everything about this fraud-deterrent process.
Why You Should Be Saying “Yes” to Notaries
Any attorney you consider working with should have an important commission from the state or government in their area, so that they can provide notary services. This is exactly what our team of attorneys boast. According to the latest news in the notary industry, it seems that these services are some of the most powerful for preventing identity theft and fraud. Consider it a risk management tool, if you will. The tool reduces the burden on the client’s behalf and when you think about the importance of the duties a notary public professional executes, the services are pretty much essential. The notary will specify if the document was signed under duress or voluntarily, which makes a difference to spotting fraudulent identities and overlooking them.
The Growth Outlook
Both public and private companies are seeing a rise in the number of clients requesting their services. The growth outlook is actually looking pretty bright based on the latest news in the notary industry, with economic data and quantitative research being collected to analyze the rate of growth and, of course, trends within the notary industry. Market size and revenue per firm has increased gradually since the year 2010, and 2016 sees the highest growth rate yet. The majority of occupations within the industry seem to be legal occupations, lawyers, judicial law clerks and judges.
Revenue and Operating Expenses
Of course, the growth outlook of the latest news in the notary industry must be put side by side with operating expenses and gross profit. Without these figures, it’s near impossible to ascertain how the industry is expanding. Advertising for these services seems to be improving, as do salaries and wages for attorneys providing them. The total amount spent on notary services by the federal government in the year 2014 was $1,882,910 and this is expected to grow furthermore this year.
The more honest the information provided on documents that are being notarized by an attorney, the better the chances of the right laws and justice enforcement, should the situation call for it. The job is made easier for law enforcement officers when they have the evidence for a case right in front of their face, hence why this ‘production of evidence’ is so beneficial for the court, and the person(s) involved.