Combative sports promoter bond cost
Boxing and MMA promoter bonds are required by the State of Wisconsin and must be in the amount of $10,000. We offers these bonds for different costs depending on each applicant’s personal credit report. This bond is subject to underwriting, but applicants with excellent credit could pay as low as $100.
Bad credit? No problem! Surety Bonds offers an exclusive bad credit bonding program through which we can approve 99% of applicants for the bonds they need quickly, easily and accurately.
Why this bond
The purpose of a Wisconsin boxing or mixed martial arts professional club or promoter license surety bond is to secure payment of fees or costs that relate to the issuance of a license under section 440.035 of the Wisconsin Statutes.
If the principal (MMA/boxing promoter) fails to comply with the terms of the bond agreement and the laws of Wisconsin and the combat sports promotion industry, a claim can be filed against the bond. If the claim is validated, the surety will cover all financial losses suffered by the state and general public up to the full $10,000 penal sum of the bond. The promoter is then responsible for reimbursing the surety.
Wisconsin boxing and MMA promoter surety bonds will remain continuous unless otherwise canceled by the surety. Written notice must be provided to the promoter and the Wisconsin Department of Regulation and Licensing, Office of Legal Counsel in Madison, WI, via certified mail 60 days prior to cancellation. The surety’s liability will end 60 days after the state receives the termination notice or upon the principal filing and having a new bond accepted by the state, whichever comes first.This bond must run the entire period of an unexpired boxing or mixed martial arts professional club or promoter’s license.
Become a combative sports promoter
To become a licensed boxing or MMA professional club or promoter, you must submit a license application on the form provided by the Wisconsin Department of Safety and Professional Services. Applicants must also submit a surety bond in the proper amount, sign the affidavit of applicant and attach the $500 credential fee.
A separate Application for License to Conduct Amateur or Professional Mixed Martial Arts and Professional Boxing Contest is required for each contest a promoter holds. The completed application, application fee and all supporting documents must be submitted no earlier than 60 days and no later than 30 days prior to the date of the contest by an authorized representative of a licensed professional club or promoter. The following information must be submitted with each application:
- names and addresses of the contestants whom the promoter intends to have compete
- pairings for each match
- the number of rounds per match
- the current weights of each contestant listed
- information about the building or outside location where the contest will be held
- insurance information, including the amount of coverage for medical and life insurance
- a detailed plan for the removal of an injured contestant from the ring
- two copies of the venue floor plan
- and more
Apply for your surety bond
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