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Would you sign this on a contract?
Notary Discussion History
Would you sign this on a contract?
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Posted by Calnotary on 11/22/13 8:18pm
Msg #493776

Would you sign this on a contract?

I found this on a contract of Kentucky SS.

Indemnification And Hold Harmless. Notary hereby agrees to indemnify, hold harmless and defend Company against all claims and demands asserting liability and damages against Company arising from the Notary’s performance of his/her duties. Any and all costs of defense, including attorney’s fees, shall be paid by Notary. Company shall have the right to retain independent counsel to represent and advise SS Company in the defense of such actions all of which shall be at the expense of the Notary.

Reply by pan/nd on 11/22/13 8:26pm
Msg #493777

Re:absolutely not n/m

Reply by desktopfull on 11/22/13 8:50pm
Msg #493782

In a word, "NO!" n/m

Reply by Malbrough_LA on 11/22/13 9:09pm
Msg #493785

I'll add a big Hell in front of the "NO" above me n/m

Reply by MW/VA on 11/22/13 9:30pm
Msg #493787

No, but isn't that why we carry E&O? n/m

Reply by loancloser46 on 11/23/13 12:09am
Msg #493796

Is this from scumbag, lowballers Loan Processing Center???? n/m

Reply by MikeC/TX on 11/23/13 1:03am
Msg #493801

Absolutely not

That's why God invented E&O insurance.

Reply by walthtz on 11/23/13 7:11am
Msg #493808

Re: Absolutely not

From what I understand, E & O is only for a Notary error on the Acknowledgement or Jurat. It does not protect us from the rest of the loan package.
The statement at the beginning of this thread leads to believe if an error happens anywhere in the loan package, the Notary can be held liable. & NO, I would not sign it either.

Reply by MikeC/TX on 11/23/13 5:37pm
Msg #493874

Re: Absolutely not

"From what I understand, E & O is only for a Notary error on the Acknowledgement or Jurat. It does not protect us from the rest of the loan package."

I was referring to their E&O - should have made that clear...

Reply by HSH/WA on 11/23/13 1:00pm
Msg #493832

Re: Who do you hold responsible for your actions?

You go to a closing and screw it up why do you expect the SS/TC to pay for your mistakes? I certainly would not base my opinion of the SS/TC based on this clause. Slow/no pay is a different matter and the words scum, low ballers might apply then but not for this clause. JMO

Reply by VT_Syrup on 11/23/13 6:10pm
Msg #493877

Re: Who do you hold responsible for your actions?

Say a notary goes to a closing and someone claims it was screwed up. Notary's E&O pays for attorney to fight the claim, and wins. SS also hires attorney, and expects notary to pay the SS's attorney bill, even though notary was right.

Reply by HSH/WA on 11/23/13 8:42pm
Msg #493899

Re: Good point, I agree in this case. n/m

Reply by Les_CO on 11/24/13 9:58am
Msg #493908

I think we are going to see a lot of these 'hold harmless' clauses.........Mostly from Title Companies requiring SS, and notaries that do business with them sign, so then the SS also require it form the Notaries.

You agree to undertake the defense of and indemnify Stewart for any and all losses, claims, damages, suits, fines, penalties or other liabilities (“Liabilities”) which Stewart may incur, including court costs, litigation expenses and attorney fees, as a result of your actions or omissions in connection with performing services for Stewart pursuant to this Agreement.

Reply by BobtheElder on 11/24/13 2:16pm
Msg #493930

Oh hell no!

Reply by SharonMN on 11/26/13 10:47am
Msg #494139

I see these all the time and always cross them out and write in that my liability is limited to waiver of my fee. I don't make enough money at this to take on that kind of risk.

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