The Liberalization of Notary Fees in Romania. Objectives and Restrictions

Abstract

Minimum notary fees are the questionable regulatory feature of Romanian notary system. Classic latin notary system to which it belongs Romanian notary system is the most regulated and most restrictive of the four existing notary systems in the European Union. Notary fees are set by law. Notary is an unusual market activity when assessing service provision is not during but after the quality transpires. Minimum notary fees militate to ensure an adequate quality of notary services at an acceptable cost. In contrast, the liberalization of notary fees aims to increase competition among service providers to encourage professionals to act according to the principle of cost-effectiveness, increase quality or to offer innovative services practice the lowest prices. The purpose of writing is to assess the impact of price liberalization in Romania with reference to me deregulated Dutch notary system and similar systems similar to Romanian, the Belgian system and German system.