What is an Arizona Mixed Martial Arts and Boxing Promoter bond?
An MMA and Boxing Promoter Bond is a pledge guaranteeing that a) all participating boxers/martial artists are of permissible age (18 or older) at the time of the sports event; b) you as a promoter secures all appropriate licenses; c) you are consistently paying all related personnel (cornermen, doctors, timekeepers, fighters, referees, inspectors, scorecard judges); and d) maintains a suitable venue for each match as mandated by the Amusements and Sports Statutes in the State of Arizona.
Why do you need an Arizona MMA and Boxing Promoter bond?
You will want to have an Arizona MMA and Boxing Promoter bond because you want people to be comfortable doing business with you. If people have peace of mind, they will want to extend not just their assets but also their effort and presence in your commercial endeavors. That’s good for your business as a promoter.
More details about Mixed Martial Arts and Boxing Promoter Bond
Before you buy a bond from a reputable surety agency, you must submit yourself to a credit check, have your application accepted, and went through other screening processes.
After being bonded, you as an applicant can now apply for an Arizona Mixed Martial Arts and Boxing license that will allow you to conduct and sponsor boxing matches and MMA bouts legitimately.
Before you can be fully licensed, you need to comply with the following requisites: a)resident status confirmation; b) credit report; c) bank statements (at least three months); and d) fingerprinting at a local police station.
The Commission can deny the grant of licenses if you cannot present proof of your financial responsibility.
What is the cost of a Mixed Martial Arts and Boxing Promoter bond?
Your bond premium is vastly dependent on three core benchmarks -- personal credit history, experience, and financial history.
- Credit - Promoters with excellent credit standing will naturally pay a lower premium than those with problematic credit position;
- Experience – it refers to matters that will be taken into serious consideration when establishing the amount of premium that you will need to comply with:
- a promoter’s trustworthiness and business’ past performance
- information regarding surety bonds previously repudiated or voided
- legal actions against you
- unresolved litigations
- child support
- claims not paid
- felony convictions, if any
- Financial History – this will indicate, besides your previous business performance, if you have ever filed for bankruptcy or have failed to pay your obligees.
How do I get a Mixed Martial Arts and Boxing Promoter bond?
The very first step for you to get a bond is to secure an assessment from a reliable surety bond company. Surety Bond Authority has years of experience in the surety bond industry and has written heaps of bonds that have satisfied numerous clients all over the US.
Procure a bond today and give your business the confidence and respectable image it deserves. Give us a call and one of our surety professionals will connect with you ASAP!