What is an Oklahoma MMA Boxing Wrestling Promoter Bond?
The increasing popularity of boxing matches, Mixed Martial Arts bouts, and wrestling events have led many people all over the world to aspire to become boxers, wrestlers, and MMA fighters. This surge of “commercial fighters” entering the combat sports industry likewise resulted in most people’s desire of becoming sports promoters.
Becoming a promoter means wielding so much influence not just on the boxer, wrestler, or MMA ring fighter but also on different companies who have a stake in these sports competitions. To minimize, if not totally eradicate, unethical conduct from sports promoters, the MMA/Boxing/Wrestling Promoter Bond has been instituted.
The Oklahoma MMA/Boxing/Wrestling 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 has secured all appropriate licenses, c) you are or have 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 Oklahoma State Athletic Commission.
Why do you need an Oklahoma MMA Boxing Wrestling Promoter Bond?
You will want to have an Oklahoma MMA/Boxing/Wrestling 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 definitely good for your business as a promoter.
Before securing the Oklahoma MMA/Boxing/Wrestling Promoter Bond from a reputable surety agency, you must submit yourself to a credit check, have your application accepted, and go through other screening processes.
More details about the Oklahoma MMA Boxing Wrestling Promoter Bond
After being bonded, you as an applicant can now apply for an Oklahoma MMA/Boxing/Wrestling Promoter license that will allow you to legitimately conduct and sponsor boxing matches and MMA bouts. Before you can be fully licensed, the following requisites need to be complied with – a)resident status confirmation, b) credit report, c) bank statements (at least 3 months), and d) fingerprinting at a local police station.
How much does an Oklahoma MMA Boxing Wrestling Promoter Bond cost?
The Oklahoma MMA/Boxing/Wrestling Promoter Bond is for $5,000. Its 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 – refers to a promoter’s trustworthiness and business’ past performance. Information regarding surety bonds previously repudiated or voided, legal actions were taken against you, unresolved litigations, child support claims not paid, felony convictions if any, are matters that will be taken into serious consideration when establishing the amount of premium that you will need to comply with.
- Financial History – this will indicate, besides your previous business performance, if you have ever filed for bankruptcy or has failed to pay your obligees
How do I get an Oklahoma MMA Boxing Wrestling Promoter Bond?
Getting an Oklahoma Boxing/MMA/Wrestling Bond is simple. Contact authentic surety bond practitioners to avoid having your project or business launch stalled and who can provide you fast and efficient bonds.