The póliza service is one of the essential functions of a notary's office, particularly in commercial and financial matters. Through this service, the notary witnesses and certifies commercial contracts (pólizas) to give them legal validity and enforceability.
What is a notarial póliza?
It is a private document with commercial content (such as loans, credit facilities or guarantees) that acquires the status of a public document when it is certified by a notary. The notary certifies the date, the content, and the identity and capacity of the signing parties.
Purposes of the Póliza Service
- EnforceabilityAllows performance of the contract to be claimed in court without the need for full ordinary proceedings.
- Certified dateThe exact moment the contract was signed is certified.
- AuthenticityEnsures that the content has not been altered.
- Identification of the partiesThe notary verifies the identity and legal capacity of those signing.
- Legality checkThe notary may refuse to act if they detect unfair or unlawful clauses.
Common types of pólizas certified
- Personal or business loans.
- Documentary credits and credit lines.
- Acknowledgements of debt.
- Surety, guarantee, factoring or confirming contracts.
- Insurance policies that require notarial involvement.
Certification process
- The póliza is drafted by the financial institution or company.
- It is signed at the notary's office before the notary.
- Certification: the notary adds a record validating the content and the signature.
- Filing and, where required by law, registration.
Advantages of the póliza service
- Greater legal certainty for both parties.
- Rapid enforcement in the event of non-compliance.
- Transparency and legality checks.
- Useful for commercial or banking transactions.
- Lower litigation costs.
Legal framework
The póliza service is governed in Spain by the Commercial Code (Código de Comercio) and the Notaries Act (Ley del Notariado). The notary acts both as a public official with the authority to attest and as a legal professional who guarantees the legality and security of transactions.