Kentucky Sports Promoter Bond |
AmeriPro Surety Bonds | 844-589-9732
Sports Promoters – Kentucky
The Kentucky Boxing and Wrestling Commission oversees sports promoting in the Commonwealth.
Sports promoters, as a condition of licensing, are required to furnish the Commission with evidence of a $10,000 surety bond. Meeting this surety bond requirement will likely be the quickest part of your licensing process. Our estimation is that the process should take under 10 minutes.
Qualifying – The Premium
You are automatically approved for the $10,000 Kentucky sports promoter surety bond. When you call us, we will just need the name of your name, your business name, and address. The premium is $100.
Unlike many other surety bonds, there is neither a credit inquiry nor an underwriter review for the sports promoter bond.
Once the premium has been paid, the bond will issued immediately. A copy of the bond can be sent to you by email; however, ideally you should file the original surety bond – which you will also sign as Principal —to the Commission. The original bond will be mailed by the following business day.
Additional Premium Payment Options
At $100 premium, the Kentucky sports promoter bond is issued for one year. After the year, you are required to renew your bond as condition of licensing.
Our agency also gives you the option to prepay this surety bond for up to 3 years. Prepayment offers two advantages. The first is that it lengthens the time between surety bond renewals; and the second is that it offers you a savings over year to year renewal of the bond’s premium.
The premium breakdown options are as follows:
- If prepaid for 2 years, the premium is $180, a $20 savings;
- If prepaid for 3 years, the premium is $260, a $40 savings.
The Purpose of the Surety Bond Requirement
The sports promoter bond is a financial guarantee that you will do the following:
It guarantees that you will pay money owed in connection with sports promotion to:
- time keepers;
- other persons who are owed money.
The bond also serves as a financial guarantee that you will pay all taxes, fees, and any fines which imposed by the Commission.
The wording of this is also found on your surety bond.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Kentucky. We also provide surety bonds nationwide.
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