New York Boxing and Mixed Martial Arts Promoter Bond – $20,000
Need a license ASAP? Apply for this bond today!
What is a New York Boxing and Mixed Martial Arts Promoter Bond ($20,000)?
The New York State Athletic Commission is requiring boxing and mixed martial arts promoter license applicants to submit this bond in order to secure the following obligations of the said applicants:
- Pay the professionals' purses
- Pay the salaries of club employees licensed by the New York State Athletic Commission
- Pay the legitimate expenses of printing tickets
- Pay all advertising materials
This bond must be submitted to the New York Secretary of State before a license to conduct, oversee, hold, or give boxing or mixed martial arts matches or exhibitions pursuant to the provisions of Chapter 32 of the Laws of 2016 is issued.
How much does a New York Boxing and Mixed Martial Arts Promoter Bond ($20,000) cost?
Boxing and mixed martial arts promoter license applicants with excellent credit scores can get this bond for as low as 1% of the bond amount.
The bond amount set by the New York State Athletic Commission is $20,000.
You are still eligible to apply for this bond even if you have a low credit score.
Want to know your bond premium? Get your FREE SURETY BOND QUOTE HERE!
How can I get a New York Boxing and Mixed Martial Arts Promoter Bond ($20,000)?
Here’s a step-by-step guide on how to get this surety bond:
Submit a surety bond application to us! Once we have received your application, we will inform you about the important information or documents that you must submit in order to move forward to the next step of the bonding process which is underwriting.
During the underwriting process, our expert underwriter will assess the following:
- Your financial capability
- Your business or job performance history
- Your credit score
It is important to provide us with a clear and organized information to prevent any delays. Once the underwriting process is done, you will be asked to sign an indemnity agreement.
After that, the bond will be issued and sent to you.
How does a New York Boxing and Mixed Martial Arts Promoter Bond ($20,000) work?
New York Boxing and Mixed Martial Arts Promoter Bond Parties:
- Principal – boxing and mixed martial arts promoter
- Obligee – People of the State of New York
- Surety – surety bond provider
Through this bond, the Surety is guaranteeing the following:
- Pay the amounts required by the New York State Athletic Commission and the Act
- Any valid claim made against the bond will be promptly and fully paid
If a claim happens, the claim will first be verified by the Surety before it is settled. Once the Surety has paid the claim, the Principal must reimburse the Surety for the payments made in accordance with the indemnity agreement.
Get this bond immediately! APPLY HERE!