This article is specifically written in reference to promoters of boxing, MMA, and martial arts events; and the surety bonds which may be required, pursuant to Washington state law.
Participants of these events are not referred to in this article, and as of the time of this writing, are not required to obtain a surety bond.
In Washington State, if you act as a promoter of any the following sporting events:
Then, in addition to be registered with Washington State, you will also be required to purchase a surety bond.
Washington State maintains the following fees for registering as a promoter of fighting events:
Promoters must also pay to Washington state the following fees:
In addition to a requirement of at least $50,000 medical insurance, promoters of these fighting events are also required to purchase a surety bond.
Promoters are required to purchase a surety bond that will guarantee the payment of taxes in connection with the event.
The bond also serves as a guarantee that the promoters will pay all officials, honor all contracts, and comply with all Washington rules governing this sports promotion.
The minimum amount for this surety bond is $10,000; however, the amount a promoter will be required to purchase will be determined by the Washington Department of Licensing.
No ceiling or maximum on that amount is provided by the Department in its legislation.
While the cost of the Washington MMA, martial arts, or professional boxing promoter bond will be at least $10,000, and, possibly much higher, the price you will pay for the bond will be a fraction of that amount.
As a rough guideline, the cost of the bond will largely be determined by:
It is possible that in addition to the above, the amount may be determined also by:
AmeriPro Surety Bonds is a surety bond-only agency which provides promoter bonds for Washington state.
We also provide all types of contract, court, license & permit, and fiduciary bonds for all 50 states.
Call us today at 844-589-9732 to speak with one of our helpful agents. We will work with you to get you the best pricing possible as a promoter.