New York Authorized Sanctioning Entity Bond – $10,000

 

Acquire your license through this bond!

What is a New York Authorized Sanctioning Entity Bond ($10,000)?

It is a financial security requirement that must be submitted to the Secretary of State by every person who is applying for an authorized sanctioning entity license.

 

The license applicant must submit this bond before he or she can oversee or conduct any of the following combative sports within the State of New York:

  • Judo
  • Karate
  • Kempo
  • Kickboxing
  • Mixed Martial Arts
  • Muay Thai
  • Tae Kwon Do
  • Wrestling/Grappling

The purpose of this bond is to ensure that the license applicant will perform all the legal obligations once the license is issued by the New York State Athletic Commission.

 

This bond is in pursuance of Article 41 General Business of the Consolidated Laws of New York.

 

How much does a New York Authorized Sanctioning Entity Bond ($10,000) cost?

The bond amount is $10,000.

 

License applicants don’t have to pay the full amount when obtaining this bond; only a small percentage of it.

 

The amount that you have to pay will depend on your credit score.

 

For those who have excellent credit scores, the bond premium is 1% of the bond amount or $100.

 

GET YOUR FREE SURETY BOND QUOTE TODAY!

 

How can I get a New York Authorized Sanctioning Entity Bond ($10,000)?

Just follow these simple steps:

 

STEP 1: Apply for this bond
If you’re ready to apply now, you may do so HERE!

 

STEP 2: Underwriting
We’ll ask you a few important information about your financial history, business performance history, and your credit score. An underwriter will carefully evaluate all these.

Please make sure that you have all your documents ready before you apply for this bond to avoid any delays.

 

STEP 3: Bond issuance
Once the underwriter is done with the prequalification process, you’ll be asked to sign the indemnity agreement. After that, the bond will immediately be issued and sent to you!

 

How does a New York Authorized Sanctioning Entity Bond ($10,000) work?

This bond is an agreement between three parties:

  • Principal – authorized sanctioning entity license applicant
  • Obligee – People of the State of New York
  • Surety – surety bond provider

The surety will financially support the principal by extending its credit in case the principal fails to perform his or her legal duties.

 

The legal duties that will be covered by this $10,000 bond are as follows:

  • The faithful performance of the authorized sanctioning entity licensee of the provisions of Article 41 of the General Business Law of the Consolidated Laws of New York.
  •  The compliance of the licensee to the rules and regulations of the New York State Athletic Commission.

If a violation happens, the obligee will file a claim against the bond for damages. The surety will pay the claim on behalf of the principal. However, the principal must pay the surety back after the claim has been settled.

 

License applicants with low credit scores are welcome to apply. APPLY HERE!