California Athlete Agent Bond/ California Sports Agent Bond |
AmeriPro Surety Bonds | 844-589-9732
California Athlete Agent
California athlete agents are governed by a series of laws which are designed to ensure that agents always act in the best interests of their athlete clients.
These set of laws, known collectively as the Miller-Ayala Act, require athlete agents to comply with the following (this list is not all encompassing). Penalty for non-compliance can be rather severe—and, by this we mean —-penalties can be entirely in favor of the athlete whom the agent is representing.
Among other duties, California athlete agents must:
- Submit an application to the California Department of Industrial Relations. Applicants must disclose any prior felony convictions which involve acts of moral turpitude, fraud, and dishonesty;
- Once approved, in dealings with athletes, athlete agents must provide a written description of services to be performed, and any related fees;
- Establish a trust fund when the athlete agent receives the athlete’s salary. The entire salary is to be deposited into the trust fund and the trust fund must be held at a federally chartered bank;
- Not have any personal or indirect ownership of any sport or business interest with which a client of an athlete agent has entered into any contract with;
- Not have any client enter into any contract where the agent knows or suspects that there may be an ensuing contract dispute, strike, lockout or other labor dispute without first informing the athlete client;
California athlete agents must submit a surety bond in the amount of $100,000 and have the bond filed before acting as an athlete agent.
Athlete Agents Bond, California:
The California Department of Industrial Relations requires California athlete agents to post a $100,000 surety bond.
This bond in no way at all protects the athlete agent. Nor is a surety bond a liability insurance policy for the athlete agent.
Rather, this bond protects clients of the athlete agents against all acts of fraud, dishonesty, violations of the Miller-Ayala Act, willful misrepresentation and non-compliance of state regulations which may be committed by the California athlete agent in the performance of their profession.
Getting a California Athlete Agent Bond:
Getting your California athlete agent bond with AmeriPro Surety Bonds is easy and usually rather quick.
We will work with you to complete the application, which is afterwards submitted for review for underwriting.
While the bond is for $100,000, your price (known as the premium) is a fraction of that amount.
The premium amount for the bond will be determined by your credit score.
Bad Credit and the California Athlete Agent Bond:
Clients who have challenged credit score need not be concerned with AmeriPro Surety Bonds. While, unfortunately, you will pay more for the surety bond, we are committed to treating you with the utmost courtesy and professionalism, regardless of your credit score;
We are absolutely committed to finding you the best pricing.
About AmeriPro Surety Bonds:
Besides the California athlete surety bond, AmeriPro Surety Bonds provides surety bonds including commercial, court, fiduciary, and license & permit bonds for all 50 states.