Combative sports event promoter bond cost
The Oklahoma State Athletic Commission requires boxing, MMA, kickboxing and wrestling event promoters to post surety bonds in varying amounts prior to conducting business within the state. The Commission determines the exact required bond amount, so applicants should verify their required amount of bond coverage prior to bonding.
Since both the amount and price of this bond vary, we suggest contacting one of our surety experts to find out exactly how much you’ll pay for your Oklahoma surety bond!
Why this bond
By posting an Oklahoma boxing, MMA and wrestling promoter bond, the principal (promoter) pledges to pay all taxes and fees due to the Oklahoma State Athletic Commission. Under this bond, principals must:
- repay ticket holders for purchased tickets if the match is canceled
- pay ring officials and physicians
- pay competitors’ prize money
- and more
Promoters must abide by the guidelines put in place by the Athletic Commission.
If the principal violates any of the terms of the bond agreement and consumers are harmed as a result, the surety will pay for all damages up to the full bond amount. The principal, in turn, must reimburse the surety for any damages paid out.
Boxing and MMA promoter bond details
The Oklahoma boxing, MMA and wrestling promoter bond is continuous until canceled by the surety or the principal. If the surety chooses to terminate the bond early, a written cancellation notice must be submitted and filed with the commission 30 days prior to termination.
When filling out the bond form, it is important to indicate where the combative events will take place.
Become a combative sports promoter
It is against the law for any person to promote any combative sports event without first obtaining a license issued by the Commission in Oklahoma. To obtain a license, the applicant must do the following:
- post a surety bond
- submit a completed application form with the required application fee
- be at least 18 years of age
- provide the Commission with evidence that he or she possesses knowledge of the responsibilities involved in promotion
- and more
Take the first step toward becoming licensed in Oklahoma by purchasing the surety bond you need! Our experts do all of the hard work for you.
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