What is an Iowa Boxing, Wrestling, and MMA Promoter Bond?
Are you in need of a Boxing, Wrestling, and MMA (Mixed Martial Arts) Promoter Bond? If so, you’re in the right place! Here are the top 3 reasons why you should get one:
- It’s mandatory. This surety bond is a licensing prerequisite required by the State Commissioner of Athletics, by Section 90A.2 of the Iowa Code.
But, this bond will also…
- Help you fulfill your obligations in a proper manner
- Help you maintain your license and be in good standing with the Iowa Athletic Commission
The duties of boxing, wrestling, and mixed martial arts promoter are the following:
- Conducts, organizes, holds, or advertises a professional boxing, wrestling, or mixed martial arts event.
- Charges an admission fee to watch a professional boxing, wrestling match, or mixed martial arts event held in a closed-circuit, pay-per-view, or similarly distributed signal.
What is the bond amount?
The bond amount is $5,000.
Those who have excellent credit scores may be eligible to pay a low bond premium.
Get your FREE quote today to determine what you have to pay!
What are the Boxing, Wrestling, and Mixed Martial Arts Promoter’s bond conditions?
- The bond should be issued by a corporate surety who is authorized to conduct business in the State of Iowa such as Surety Bond Authority
- The surety bond should be written on a form prescribed by the State Commissioner of Athletics
- The surety bond should be made payable to the State of Iowa
- The licensed Boxing, Wrestling, and Mixed Martial Arts Promoter should abide by the provisions of Section 90A of the Iowa Code, the rules and regulations of the Iowa Athletic Commission, and all the other applicable rules
- If the licensed Boxing, Wrestling, and Mixed Martial Arts Promoter commits a valid violation, the aggrieved party will be eligible to file a claim on the surety bond
- In case of cancellation, a 30-day notice is required
How can I obtain this type of bond?
To secure this type of bond, the Boxing, Wrestling, and Mixed Martial Arts Promoter license applicant must seek the assistance of a surety bond company.
You will first be asked to apply for this bond. If you’re ready to apply for one right now, you may easily do so HERE!
Once the application is received, the surety bond company will immediately process it. In our case, one of our expert surety bond agents will guide you through the whole process from the time you applied for the bond. We will make sure that you understand all the conditions before we issue the bond.
An underwriter will then evaluate the following:
- Your financial strength
- Your job/business performance history
- Your credit score
Once the prequalification process is fulfilled, we will execute the bond and send it to you!
Ready to get bonded? APPLY today!