What's a Signature Guarantee and Is It the Same as a Notarization?
Signature guarantees and notarizations are perceived to be the same or at least similar to many. Upon closer review, they are different while having a similar purpose. Let's take a look at how.
First and foremost, a signature guarantee, also known as a medallion signature, is used in the sale of financial securities and other financial documents. Notarization is utilized for legal documents such as wills, powers of attorney, contracts or affidavits. Signature guarantees and notarizations are similar in that both are used to verify the identity of the signer(s) and their agreement in signing the document at hand.
In both instances, the person requesting the medallion signature or notarization, must appear before the person authorized to complete the request.
Who Performs Signature Guarantees and Notarizations?
Signature guarantees can be performed by a representative at your bank, credit union or financial institution who is an authorized agent of one of these three programs:
STAMP - Securities Transfer Agents Medallion Program
SEMP - Stock Exchanges Medallion Program
MSP - New York Stock Exchange Medallion Signature Program
Notarizations are performed by a notary public who have been approved by the Secretary of State in the state in which they perform notary work.
Must I Pay for the Service?
Many banks, credit unions and financial institutions offer both signature guarantees as well as notary services if the person requesting service is a customer of the institution. If not, they may deny service or may charge a fee.
What does a signature guarantee and notary stamp look like?
Signature guarantees utilize green ink which is difficult to forge and must include the signature of the agent completing the guarantee. Notary stamps usually utilize black ink and are generally rectangular in shape while some may be round. Embossed notary seals, which have become less common, are generally a round shape.
About Blue Ink Notary -- Blue Ink Notary has been providing mobile notary services since 2019. Located in Reading, PA, I serve the residents of Berks County and its surrounding counties. Remote online notarization (RON) and in-person electronic notarization (IPEN) services are also available for your convenience.
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