License Bond for Boxing, Martial Arts, or Wrestling Exhibitions
The State of Missouri has required the obtainment of the License Bond for Boxing, Martial Arts, or Wrestling Exhibitions. The required bond amount is $5,000. This bond is also referred to as the Promoter’s Bond. This bond must be obtained in order to have an active license and conduct business in the state of Missouri.
The purpose of this Surety Bond is to insure the payment for damages, penalties, taxes or expenses resulting from promotional activities necessary for the proper functioning of any public or private competition that involves the sport of boxing, wrestling, mixed martial arts or any form of boxing, wrestling or mixed martial arts. These participants include but are not limited to: Inspectors, Judges, Referees, Timekeepers, Physicians, and Patrons as defined by the rules of the state of Missouri. The person desiring to obtain a Promoter’s license is referred to for the purpose of this document as “Promoter.”
The Promoter and all of the Promoter’s agents and employees will have to faithfully and honestly perform and abide by all the obligations imposed by the rules of the Boxing and Wrestling Program. The bond helps ensure that the promoter will comply with all regulations, rules, and laws when performing in Missouri. This bond will protect your clients from malpractice or detriment done by your company. These wrongdoings can be any person damaged by any misrepresentation or fraud of your services.
The bond helps guarantee that the Promoter will follow all regulations, rules, and laws. This bond will protect the clients and state by guaranteeing faithful and honest performance. The bond provides surety in regaining losses in fees, fines, and expenses imposed by state regulators. If there are any poor financial decisions, damages, or violating of any laws or regulations, this bond will be used in favor of the state.
The surety company will payout if you are found at fault for a claim on your bond. Qualification for this bond will require a credit check. The rate will depend on the credit worthiness of the applicant and will carry a rate from 1% to 15%. A quote can be obtained by completing the online application.
Link to Missouri License Bond for Boxing, Martial Arts, or Wrestling Exhibitions Form: