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How much does an Ohio promoter bond cost?
Boxing and mixed martial arts promoters are required to post at least a $20,000 surety bond with the Ohio Athletic Commission. The Ohio Athletic Commission determines the exact bond amount so it is important to verify the bond amount with them. Because bond amounts for boxing and MMA promoters vary, the premium an applicant will pay is determined by a review of their credit by an underwriter. With excellent credit, SuretyBonds.com can issue these bonds for as little as 1% of the total bond amount.
Since both the amount and price of this bond vary, we suggest contacting one of our surety experts to find out exactly how much you’ll pay for your Ohio surety bond!
If you’re ready to get bonded, call SuretyBonds.com at 1 (800) 308-4358 or submit a bond request now! We can provide your free, no-obligation bond quote within 1 business day of submitting your application.
Why do I need this bond?
By posting a promoter bond, the promoter agrees to follow all rules and regulations established by the Ohio Athletic Commissioner Chapter 3773-3.
If the general public or the state suffers financial losses or other harm as a result of the principal’s (promoter’s) actions, the surety bond offers protection up to the sum of the bond. Although the surety will initially cover the damages, the principal is ultimately responsible for reimbursing the surety for any damages paid out.
Read to get bonded quickly, easily and accurately? Request your free bond quote now!
What’s the fine print?
A promoter surety bond is in full effect for one-year unless there is a claim filed or the bond is cancelled. The surety can cancel the bond if they give a 60 day notice to the promoter before the effective date.
The state of Ohio does not have a specific form for this license, so the surety company that issues the bond will do so on an approved form that they provide.
How to become an Ohio promoter
In addition to posting a surety bond, an applicant must submit the following during registration:
- Fill out a license application, which can be found in the Additional Resources section below
- A Passport sized photo in the application
- A $100 to $200 licensing fee
For a full list of requirements, please visit the promoter application link below.