Remote Online Notarization (RON) has been gaining popularity, especially with the rise of digital transactions. Here are some pros and cons of using RON for notaries and clients
The Good
Convenience and Accessibility
-RON allows notaries and signers to complete notarizations from any location, reducing the need for in-person meetings. This is especially helpful for people in remote areas, with busy schedules, or during emergencies
Enhanced Security
-RON platforms often include robust identity verification processes, such as credential analysis and knowledge-based authentication (KBA), reducing the risk of fraud.
-Digital records of the notarization, including video recordings, provide a secure audit trail.
Faster Transactions
-Transactions can be completed much faster since signers and notaries can meet online, cutting down on travel time and scheduling conflicts. This can be particularly beneficial in real estate or legal situations requiring timely document execution.
Long-Term Storage
-Many RON platforms automatically store notarized documents and recordings for a certain period (often 10 years). This makes it easier to retrieve records if needed for future reference.
COVID-19 and Health Safety
-RON offers a safe option for notarization during times when in-person interactions could pose a health risk, such as during the COVID-19 pandemic.
The Bad
Technology and Access Barriers
-Not everyone has access to the necessary technology (internet, webcam, computer), which can exclude certain individuals from using RON, particularly the elderly or those in rural areas with limited internet access, limiting the scope of RON.
Legal and Jurisdictional Limitations
-While many states, including Maryland, have legalized RON, not all states or countries recognize RON notarizations. This can create challenges when dealing with interstate or international documents.
-Some legal documents may require in-person notarization based on local laws.
Learning Curve for Notaries
-Notaries must become familiar with the digital platforms, understand the technology, and comply with the legal requirements specific to RON (like keeping electronic journals or video recordings). This may require additional training.
Increased Costs
-RON platforms may charge notaries for using the service, and the cost of maintaining digital security, storage, and the required technology could be higher than traditional notary methods.
-Some notaries may pass these costs onto clients, making the service more expensive than traditional notarization.
Privacy Concerns
-Since the notarization process is recorded and stored, there are potential privacy concerns regarding protecting and securing sensitive client information. Data breaches could expose sensitive personal information if notaries or RON platforms fail to protect it adequately.
RON offers significant benefits in terms of convenience, security, and efficiency, especially in a digital-first world. However, the legal complexities, access to technology, and privacy concerns must be carefully considered by both notaries and clients.
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