What is a New Mexico Athletic Event Promoter Bond?
The New Mexico Athletic Event Promoter Bond is an irrevocable pledge demanded by the New Mexico State Athletic Commission from event promoters holding professional athletic matches. Specifically, it assures that during the conduct of sports competitions, a) participating boxers/martial artists are of permissible age (18 or older), b) the event promoter has secured all appropriate licenses, c) has been consistently paying all engaged personnel (cornermen, doctors, timekeepers, fighters, referees, inspectors, scorecard judges), and d) maintains a suitable venue for each match as mandated by the Commission.
Why do you need a New Mexico Athletic Event Promoter Bond?
You need the New Mexico Athletic Event 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 which is good for your business as an athletic event promoter.
More details about the New Mexico Athletic Event Promoter Bond
Before being bonded, an applicant for the New Mexico Athletic Event Promoter Bond needs to be fully licensed by complying 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.
What is the cost of a New Mexico Athletic Event Promoter Bond?
The New Mexico Athletic Event Promoter Bond amount ranges between $10,000 t0 $15,000. Premium payment amounts will vary as this is dependent on the event promoter’s credit score, financial capability, and history. A promoter who possesses an excellent business reputation does not have tax payment problems, and has not been convicted of any crime can surely avail of lower premium payments than those who have tax issues and a low credit mark.
How do I get a New Mexico Athletic Event Promoter Bond?
Procuring the New Mexico Athletic Event Promoter Bond is effortless and cost-effective. All you need to do is find a legitimate surety bond company that can provide you the answers to your concerns regarding the protection of your business. With a dependable surety bond organization behind your endeavors, operating an athletic event promotion business becomes profitable and fun.