What is a Pennsylvania Professional MMA Promoter Bond?
The Pennsylvania Boxing Act, as it relates to professional boxers, and Chapter 29: mixed Martial Arts that applies to professional mixed martial arts (MMA) competitors, promoters, and other licensees. Mixed martial arts promoters are required to file a surety bond before being able to transact business in the state.
The Professional MMA Promoter Bond ensures faithful performance by MMA promoters of their obligations in compliance with state laws relating to arranging or promoting mixed martial arts contests, matches, and exhibitions.
Mixed martial arts promoters must:
- Notify the Pennsylvania State Athletic Commission in writing of the time, date, and location of the competition or match at least ten days in advance of the event
- Receive written approval from the Commission to hold the event on the specified date.
- Conform to the Commission if it limits the number of mixed martial arts events per month to ensure the proper regulation of each event.
Note: All professional contests and exhibitions of mixed martial arts must be conducted under the regulation and authority of the Commission.
Under the Boxing Act, mixed martial arts is described as a competition involving the use of a combination of techniques from various martial arts disciplines, including grappling, kicking, and striking.
What is the bond amount?
The bond amount is $15,000.
The cost of the bond is a percentage (bond premium) of the bond amount. The cost varies, depending on the determined amount by the Department and your credit score.
How can I obtain a Professional MMA Promoter Bond?
We’ve made it easier for you! Just follow the simple steps below!
STEP 1: Apply for the bond
You need to submit a bond application to us. If you’re ready to apply now, get to know your bond costs and requirements by applying for a FREE quote HERE!
STEP 2: Underwriting
We will ask you for a couple of important information needed for the bond. This will include your credit score. An underwriter will carefully evaluate all those.
STEP 3: Bond execution
Once the underwriter is done with the underwriting process, we will immediately issue the bond and send it to you!
What are the bond conditions?
- The Surety must be authorized to write a bond in the Commonwealth of Pennsylvania.
- The bond is conditioned upon the faithful performance by the promoter of his obligations under the Boxing Act, 5 Pa.C.S. § 301 et seq., and Chapter 29, Subchapter A. Professional Mixed Martial Arts.
- If the Principal faithfully complies with all ordinances, rules, and regulations related to MMA promotions, then the obligation will be considered null and void. Otherwise, it will remain in full force and effect.
- The Surety may terminate its liability by giving a 30-day written notice to the Pennsylvania State Athletic Commission.
- The Surety’s aggregate liability will not exceed the full bond amount.
For accessible, affordable, and hassle-free bonds, get your bonds calling us now!