Boxing and MMA promoters bond cost
The Tennessee Department of Commerce and Insurance requires MMA and boxing promoters to obtain a $25,000 surety bond. The premium for these bonds are based on a review of the applicant’s credit report, and an applicant with good credit could pay as low as $250 with us
Bad credit? No problem!we offers an exclusive bad credit bonding program through which we can approve 99% of applicants for the bonds they need.Give us a call at 888.610.4474 or submit a bond request to begin our fast and easy bonding process.
Why this bond
Tennessee boxing promoter bonds guarantee that the principal (promoter) will faithfully perform all obligated acts and comply with all the provisions of the Rules of Tennessee Athletic Commission Chapter 0145. Specifically, the bond form requires the promoter to pay all taxes as well as any other costs or fees that may be due. The bonds also ensure promoters manage funds appropriately on behalf of clubs conducting contests, including payments to contestants and to all other professional personnel.
Should there be a claim against the promoter, the surety will pay the claim up to the full bond amount. However, the principal must reimburse the surety for all money paid out in the claim.
Boxing and MMA promoters bond details
Tennessee promoter bonds are in effect for one full year and must be renewed annually unless claimed against or cancelled. The surety may cancel the bond by giving written notice to the Department of Commerce and Insurance 30-days before the cancellation’s effective date.
Become a combative sports promoter
All combative sports promoters must first obtain a license from the Department of Commission and Insurance before promoting an event. Applicants must submit the following to become a licensed fight promoter in Tennessee:
- $500 application fee
- A $25,000 surety bond on the appropriate form
- Identification (including a photograph
- A background check
Apply for your surety bond
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