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How much does a boxing and MMA promoter bond cost in Tennessee?
The Tennessee Department of Commerce and Insurance requires MMA and boxing promoters to obtain a $25,000 surety bond. The premium for these bonds is based on a review of the applicant’s credit report.
Bad credit? No problem! SuretyBonds.com offers an exclusive bad credit bonding program through which we can approve 99% of applicants for the bonds they need.
Contact a surety specialist today to receive a free, personalized bond quote within 1 business day of applying.
Ready to get a free surety bond quote? Feel free to call us at 1 (800) 308-4358 or submit a bond request, and one of our bond specialists will contact you right away to walk you through our fast and easy bonding process.
Why do I need this bond?
Tennessee boxing promoter bonds guarantee that the principal (promoter) will faithfully perform all obligated acts and comply with all the provisions of the Rules of Tennessee Athletic Commission Chapter 0145. Specifically, the bond form requires the promoter to pay all taxes, as well as any other costs or fees that may be due. The bonds also ensure promoters manage funds appropriately on behalf of clubs conducting contests, including payments to contestants and to all other professional personnel.
Should there be a claim against the promoter, the surety will pay the claim up to the full bond amount. However, the principal must reimburse the surety for all money paid out in the claim.
What’s the fine print?
Tennessee promoter bonds are in effect for one full year and must be renewed annually unless claimed against or cancelled. The surety may cancel the bond by giving written notice to the Department of Commerce and Insurance 30 days before the cancellation’s effective date.
How to become a combative sports promoter in Tennessee
All combative sports promoters must first obtain a license from the Department of Commission and Insurance before promoting an event. Applicants must submit the following to become a licensed fight promoter in Tennessee:
- $500 application fee
- A $25,000 surety bond on the appropriate form
- Identification (including a photograph)
- A background check
Prepare for your event today by applying for a free bond quote! Our team of surety specialists can provide you with a free bond quote within one business day of applying.