How much does a $5,000 combative sports promoter bond cost in Iowa?
The Iowa Athletic Commissioner requires sporting event promoters to post a $5,000 surety bond. The cost of combative sports promoter bonds depends on a review of the applicant’s qualifications. Highly qualified applicants may be approved for as little as 1-3% of the total bond amount.
|Bond Type||Bond Amount||Cost*|
|$5,000 Boxing/Wrestling/MMA Bond||$5,000||Starts at $100||GET A QUOTE|
Call SuretyBonds.com at 1 (800) 308-4358, or submit a bond request to connect with a bond expert now.
Why do I need this bond?
By posting this surety bond, promoters agree to follow Iowa Code Chapter 90A regarding the regulation of boxing, wrestling and mixed martial arts events. The bond form specifically requires the promoter to appropriately pay all taxes as well as any other costs or fees. MMA bonds also ensure promoters manage funds appropriately on behalf of clubs conducting a contest, including payments to contestants and to all other professional personnel.
What’s the fine print?
This bond must remain active for the duration of a promoter’s license. The principal’s mailing address must be listed on the bond form.
Iowa boxing/wrestling/MMA surety bonds are continuous unless otherwise canceled. If the bond is to be canceled, the surety must provide the obligee with at least 30 days written notice.
How to become a combative sports promoter in Iowa
It is against the law to conduct organized fighting events without being properly licensed. When submitting a license application form, promoters must provide the following:
- names and addresses of the contestants whom the promoter intends to have on the card
- the number of rounds per match
- the current weights of each contestant listed
- information about the building or outside location where the contest will be held
- insurance information, including the amount of coverage for medical and life insurance
- a detailed plan for the removal of an injured contestant from the ring
Fighters must be at least 18 years old to compete.
If you’re ready to start promoting fights, apply for a free bond quote today!