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What are MMA/Boxing Promoter Bonds?
SuretyBonds.com is legally licensed to issue MMA/boxing bonds in all 50 states. Whether you’re a promoter in Indiana, Delaware or Pennsylvania, we can bond you!
MMA/boxing promoter bonds ensure promoters of certain combative sporting events meet associated payment and performance obligations. The financial guarantee from the bond provides athletes an additional sense of security when they decide to work alongside a sports promoter.
Combative sports promoter bond requirements vary between states and are also known by various names:
- Boxing promoter license bond
- Mixed martial arts bond
- MMA bond
- Promoter license surety bond
- Sports promoter bond
How do MMA/Boxing Promoter Bonds Work?
Many states require sports promoters file a sports promoter license surety bond before they can officially be licensed to promote sporting events in their state. Each MMA/boxing bond issued functions as a legal contract binding three entities together.
- The principal is the promoter purchasing the bond as a way to guarantee his/her compliance with the situation(s) found in the bond’s terms.
- The obligee is the government agency requiring the sports promoter to purchase a bond to guarantee a certain level of professional performance.
- The surety backs the bond and provides a financial guarantee of the sports promoter being able to follow regulations.
If a promoter should fail to meet the expectations outlined in a sports promoter bond, the obligee can make a claim on the bond to recover losses or collect penalties. The financial compensation guaranteed by MMA sports promoter bonds provide athletes with increased security when choosing to work with a sports promoter.
It’s important to note how the sports promoter bond does not protect against injury in the boxing ring. Rather, the bond ensures promoters will execute their contractual obligations and follow the rules and regulations outlined in their promoter’s license for the particular state in which they are promoting.
State Specific Costs
MMA promoter bond costs and requirements vary greatly, as the bond amounts and regulations accompanying each license is established at the state level. Select your state below for more information pertaining to your state’s MMA bonds or call 1 (800) 308-4358 to speak with a surety expert.
What are the Next Steps?
The bond amount required by each state directly impacts how much a promoter will pay for the bond, as does the promoter’s personal application and financial credibility. Applicants deemed to be highly qualified may be quoted for as little as 1-3% of their total bond amount. This means a standard $10,000 MMA promoter bond will cost between $100 and $300 for one year of coverage. Find out what you’ll pay for your bond by getting a free, no-obligation quote!
There are some states that require other surety bonds in addition to the MMA/boxing promoter bond. One such bond is the match permit bond, which is valid for just a single event. Another bond that is sometimes required of promoters is a tax bond to guarantee the payment of taxes.