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Florida Boxing Promoter Surety Bond & MMA Promoter Bond
What is a Florida Sports Promoter Bond?
The Florida Promoter Bond is a $15,000 surety bond that is required in order to be licensed as a Promoter of boxing, kickboxing, and/or mixed martial arts (MMA) matches. $15,000 is the minimum bond amount that is required to be posted to obtain the license, if the Florida State Boxing Commission determines the projected liability for a match exceeds that amount, then the Commission will require an additional surety bond or other security.
Per Florida Statutes, Chapter 548, a Promoter is defined as a person or entity, including an officer, director, trustee, partner, or owner of a corporate promoter or promoter partnership, who produces, arranges, or stages a match involving a professional. A professional is defined as a person who has received or competed for a purse or other article of a value greater than $50, either for the expenses of training or for participating in a match.
Florida MMA Promoter Bonds and Boxing Promoter Bonds are individually underwritten so the cost can vary and is dependent on the personal credit report of the applicant. In most cases, a copy of the event contract will also be required. Customers with good credit scores could qualify for a rate as low as 1% of the bond amount. Of course, we will always provide you with the lowest rates available on the market. And can typically handle all credit types — from excellent to poor — as such those terms vary.
For example, applicants with good credit scores (generally 680 or higher) can pay as low as $150 for a 1-year term for their $15,000 surety bond.
The Florida Promoter Bond is in place to ensure Promoters account for and promptly pay all taxes and fees owed to the State, fulfill all contractual obligations to others, and, in addition, it guarantees the Bond Principal or Promoter will follow all the laws, rules, and regulations in pursuant to Chapter 548, Florida Statutes and Rule 61K1, Florida Administrative Code.
The Florida Department of Business and Professional Regulation (DBPR) administers all business licenses. Within the department, the Florida State Boxing Commission and its authority have been created by Florida Statutes Chapter 548 to license and regulate professional MMA, boxing, and kickboxing. Therefore, the Obligee named on this surety bond is the Florida State Boxing Commission, Florida Department of Business and Professional Regulation.
Florida Sports Promoter Bonds are continuous and run in full force from the effective date until they are canceled, which can be done with 60 days written notice to the Commission and only if 90 days have elapsed since the date of the most recent match in which the Principal acted as the Promoter. The surety bonding company will renew and bill for the surety bond on an annual basis.
Any additional surety bond that is required for a specific match shall be released or returned 90 days after the date of the match unless there has been a violation or a violation has been suspected, then the Commission will determine how long the security shall be retained.
Contact The ProSure Group. As surety bond experts in business over 23 years in Florida, The ProSure Group has handled numerous bonds of this type and has partnerships with more than 30 different surety companies. This ensures that we get you the best, most competitive pricing and terms available in the marketplace. You just need to complete our simple application and one of our specialists will quickly contact you.
If you don't see the bond you're looking for give us a call at (800) 480-3883 and speak to one of our many Florida MMA/Boxing Promoter Surety Bond Experts!
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Bond
Obligee
Bond Amount
License
Florida Promoter Surety Bond
Florida State Boxing Commission, Florida Department of Business and Professional Regulation
