Minnesota Combative Sports Promoter Bond Guide
If you’re applying for a promoter's license in Minnesota, you’ll need this surety bond.
Bond Overview
- Purpose: To ensure promoters of combative sporting events meet license and contract obligations
- Who Needs It: MMA, boxing and other combative sports promoters
- Regulating Body: The Minnesota Department of Labor and Industry, Office of Combative Sports
- Required Coverage: $1,000–$10,000, credit-based
- Premium Rate: $100 for a 1-year term
Learn all about the bond requirements and process in this guide.
What Is a Minnesota Combative Sports Promoter Bond?
A Minnesota sports promoter bond ensures MMA and combative sporting event promoters meet their payment and performance obligations.
The financial guarantee from the bond also provides security to athletes who work with a sports promoter.
How Much Do Combative Sports Promoter Bonds Cost in Minnesota?
A $1,000–$10,000 Minnesota sports promoter bond costs a flat rate of $100 for a 1-year term. Or, you can save 25% by selecting a multi-year term.
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SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Combative Sports Promoter Bond?
The Minnesota Office of Combative Sports requires this bond as part of the licensing process for combative sporting event promoters in the state.
By filing surety bonds, promoters promise to pay all fees owed to the state and participants as well as to uphold all license regulations.
How Do I Get My Bond?
With SuretyBonds.com, you can buy your Minnesota sports promoter bond instantly online. Just enter your information and checkout in minutes.
We’ll mail you the bond via your preferred shipping method. Be sure to file the bond with the Office of Combative Sports as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Minnesota Combative Sports Promoter Bond Work?
As with all surety bonds, a sports promoter bond creates a legal contract between three parties:
- Principal: You, the combative sporting event promoter filing the bond
- Obligee: The Minnesota Office of Combative Sports requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding all state rules and regulations for sponsoring and promoting sports events.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your sports promoter bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.