People enter into an agreement for various reasons such as buying, selling or rendering services. Contracts contain relevant agreements which both parties should perform. However, there are instances when one of the contracting parties ends up dealing with legal disputes because of one essential element that has been taken for granted: notarization. Does notarization bear any weight on the contract? While merely signing a contract binds a person into an agreement, a contract that bears the signature of contracting parties may not suffice in spite the presence of consent elements.
The importance of notarization
Notarization has a legal impact on the contract as it converts a private document to a public instrument. Agreements on the contract are enforceable once the document is notarized because it is a strong proof of the document’s authenticity. However, basic requirements must also be observed in notarizing documents. The document is also rendered admissible in court as tangible evidence once it is notarized. Notarization also prevents fraud among legal documents and contracts. The documents that often require notarization are Power of Attorney, medical documents, sworn statements, affidavits, deeds, wills and trusts.
It is stated under Section 1 of Public Act No. 2103, known as the Notarial Law that, ““An instrument or document shall be considered authentic if the acknowledgment is made before a notary public or an officer duly authorized by law of the country to take acknowledgments of instruments or documents in the place where the act is done. The notary public or the officer taking the acknowledgment shall certify that the person acknowledging the instrument or document is known to him and that he is the same person who executed it, and acknowledged that the same is his free act and deed. The certificate shall be made under his official seal, if he is by law required to keep a seal, and if not, his certificate shall so state.”
The process
1. The unsigned document must be brought to the notary public. It is important to note that the document must not be signed in advance as the notary public will not entertain signed documents without their presence. Proper identification must be secured to ensure that notary public can verify your identity. Proofs of identity include TIN, NBI Clearance and SSS ID.
2. Upon verifying your identity, the notary public will also check your documents. There are instances when notary publics prepare document for you to sign. This step is usually required in the case of affidavits.
3. Once identification and document are clear, you will be asked to sign the document. You will also be observed if you are signing under duress or if another person is forcing you to sign the document against your will.
4. You should also have one credible witness who is personally known to either the individual signing the document or the notary public.
5. The transaction will be recorded on the notary’s journal. The record will show the date, place and other essential details of the transaction.
6. If the requirements and process have been fulfilled, the notary will stamp the document with an official public seal or stamp to prove that your document is notarized. The payment for notarization will vary from location to location.
