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How much does an MMA promoter bond cost in Hawaii?
Mixed martial arts and combat sports promoters in Hawaii must post $10,000 surety bonds as a licensing requirement. Although these bonds are subject to underwriting consideration, qualified applicants could pay premium rates as low as 1-3% of the bond's amount. Request your free bond quote now!
We can provide you with a free surety bond quote within 1 business day of submitting your application! Call 1 (800) 308-4358 or click here to get started.
Why do I need this bond?
By posting a promoter surety bond in Hawaii, principals (promoters) pledge to conduct business in accordance with the provisions of Chapter 440E of the Hawaii Revised Statutes.
These provisions include:
- Furnishing every ticket purchaser a coupon, check or stub showing the name of the club, the date of the event and the amount paid for the ticket
- Redeeming every coupon, check or stub purchased if the contest is canceled or postponed
If the principal fails to conduct ethical and lawful business, the bond protects any person, firm or corporation who sustains an injury covered by this bond up to the full bond amount of $10,000. The promoter must reimburse the surety for any damages paid out.
What’s the fine print?
Hawaii MMA promoter bonds remain in full force and effect for the principal’s license period and for any and all renewals of the license until the bond is terminated by the surety. The surety can terminate the bond by giving 30 days’ written notice via certified mail to both the promoter and the Hawaii MMA Program at its office in Honolulu, Hawaii.
How to become a combative sports promoter in Hawaii
To legally perform the duties of an MMA promoter in Hawaii, applications must be sent to the director of Commerce and Consumer Affairs. The following materials must be attached to each application:
- Application fee
- License fee
- Current audited financial statement
- State of Hawaii Tax clearance
- $10,000 surety bond
Licenses must be renewed biennially by June 30 of every odd-numbered year.
Each hosted event will require an event permit.
Event permit applications should be sent separately from license applications. The following materials must accompany each permit application:
- $100 application fee
- $400 permit fee
- Proof of $50,000 medical insurance per contestant
- Venue contracts
- Manager/contestant and promoter/contestant bout contracts