New York Wrestling Promoter Bond | AmeriPro Surety Bonds
New York Wrestling Promoters
The New York State Athletic Commission categorizes wrestling promoters separately from boxing and MMA promoters.
The boxing and MMA promoters have two surety bonds that they are required to purchase; the wrestling promoter surety bond is just one surety bond for $20,000.
AmeriPro Surety Bonds also offers the NY boxing and MMA promoter surety bonds.
New York Wrestling Promoter Bond: The Purpose of this Surety Bond
The New York wrestling promoter bond is required as financial guarantee which ensures payment of the following:
- Sales, local and use taxes;
- The cost of printing tickets;
- Advertising material associated with the promotion of wrestling events;
- Payment to employees of a wrestling promoter who are licensed by the Commission;
- Payment to organizations which sponsor wrestling events.
The bond as such, is purchased by the wrestling promoter, but the bond is for the benefit of the groupings listed above, not the wrestling promoter.
The Commission is the obligee for this surety bond, that is, they are the entity requiring it as a prerequisite for licensing.
Should it ever be necessary to pay a claim on this surety bond, it is the legal responsibility of the principal, (i.e. you), as purchaser of the bond to reimburse the surety for all costs associated with satisfying a claim.
New York Wrestling Promoter Bond: The Premium
The premium for the New York wrestling promoter bond is the price that you will pay for its issuance.
And, significantly, that price, will be nowhere near the $20,000 surety amount.
Applicants may pay as little as several hundred dollars annually for this bond.
The amount of the premium you will pay will be determined by an application (which we can take directly over the phone; it only takes a few minutes), and your credit score.
Duration of the New York Wrestling Promoter Bond
The bond is issued for a period of one year, and should have dates which ideally correspond with the term of your license.
Also, the premium is not a onetime payment, but is paid annually upon the bond’s renewal.
Our agency will mail you well ahead of time to notify of you the bond’s premium.
After the Purchase of Your Wrestling Promoter Bond
After the bond has been purchased, our agency will have it mailed to you by the next business day, at the very latest. We also offer priority or overnight shipping for extra.
Along with all of your other documentation (and application fees to the Commission!) you’ll want to mail the surety bond to:
New York State, Department of State
P.O. Box 22090
Albany, NY 12201-1001
(Although it is not required and it is entirely up to you, our suggestion is to always send documents like surety bonds with some form of mail tracking).
About Our Agency
AmeriPro Surety Bonds is committed to making the surety process easy. The application for this surety bond only takes a few minutes to complete over the phone.
As an agency, our focus is one thing: Surety Bonds.
To that end, we provide license and permit, contractor, court, and fiduciary bonds throughout the great state of New York.
We also provide surety bonds nationwide. We welcome the opportunity to provide you professional, efficient surety bond service.
We look forward to working for you.