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Education About Notary Fees

Education About Notary Fees

Notary fees pertain to special fees which solicitors charge their clients for the cost of instruments, and form part of taxes paid to the state and local governments in relation to formalities imposed. Only these fees are the compensation of labor for the notary, it is forbidden for notaries to collect any other amount due to their function. The fee is mandatory for the notary, and the correct calculation of the fee is controlled by the professional guidelines. At the request of the client, or during the annual inspection of the study, an incorrect fee is adjusted by the notary, the Chamber of Notaries or the judge. The notary may not inflate fees in complete disregard of conditions set under the relevant tariff, and the work on the preparation, plus the drafting of the document signed by all parties and the formalities are included in the fee. It is viewed as sufficient to cover all the advice, consultations, conferences, drafting of the deed, correspondence and other administrative costs. The notary will also proceed to inform the involved parties that could have events in some parts of their deeds. Such compulsory information is included in the tariff; the only exception is when a litigation procedure has been resolved or avoided by the notary, the rate in such instances is almost doubled. Any intervention by other notaries does not translate to additional cost to the client, and the profession guarantees under all circumstances the choice of solicitor by a client. The proportional fee is worked out by applying a percentage on the capital or the value contained on the indictment. The rate is declining, and the multiplier varies hinging on the legal nature of the act. In other words, the fee is a multiple of unit value which differs depending on the type of formality involved. Some formality fees are multiplied when the above is performed several times as is the case with the cost of copies, other events of formality are levied only once. The notary may also play a role as a negotiator like estate agents. This involves negotiations with which the notary, acts under written authority granted by a client for this purpose. The method of calculating the fee must be given in advance by post or in writing, a lack of prior notice however, does not preclude taxation by the judge. When costs are not predictable or specified significantly in advance, the notary instead proposes a cost schedule. On the other hand, when costs are predictable, the notary employs a fixed amount or an agreed rate or percentage.

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