Maryland Athletic Promoter Expense Bond |
AmeriPro Surety Bonds | 844-589-9732
Athletic Promoters – Maryland
The Maryland Athletic Commission license and enforces the statutory laws regulating athletic promoters.
Athletic promoters refers to those engaged in the following events:
- MMA (mixed martial arts);
As a condition of licensing of as an athletic promoter, you must furnish 2 surety bonds.
Types of Surety Bonds Required
According to the Commission, as an athletic promoter, you must provide evidence of two separate surety bonds.
- An expense surety bond;
- And a “boxing and wrestling tax” bond.
Maryland Athletic Promoter Expense Bond: Amount Required and the Premium
The Maryland athletic promoter expense bond is in an amount that may vary. We typically see this surety bond as a $50,000 bond. Applicants will complete a short, standard surety bond application, and be subject to a review of credit. Typically, this bond amount for most applicants will be about $500.
The “boxing and wrestling tax” bond is a $10,000 surety bond. This bond will cost you just $100. There is no credit check involved for this surety bond.
Duration of These Bonds
The Maryland athletic promoter expense bond and the Maryland boxing and wrestling tax bond, when issued, are active for one year from the date of issuance.
With the boxing and wrestling tax bond, at least, there are options to prepay this bond for up to 3 years, offering you a savings over a year to year renewal.
The Purpose of these Surety Bonds
The athletic promoter expense bond is a financial guarantee which ensures that all expenses incurred by athletic promoter will, in fact, be paid as contractually or legally required.
The boxing and wrestling tax bond is a financial guarantee for the state of Maryland, that all tax receipts owed to the state of Maryland as function of boxing and wrestling events will in fact be paid as owed.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and fiduciary surety bonds throughout Maryland.
Our agency also provides surety bonding nationwide.
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