The California Professional Club and Promoter’s Bond is required by the California State Athletic Commission.
Professional promoters are required to secure a California Professional Club and Promoter’s Bond in order to get a license from the State Athletic Omission.
This bond guarantees the payment of all taxes and fines due and payable to the State. It guarantees the payment of contributions for medical insurance and to the pension and disability fund, the payment of assessments for neurological examinations to the participants of the competition. It ensures that all competitors will be payed as well as all referees, judges, timekeepers and physicians.
The California Professional Club and Promoter’s Bond must be in the amount of $50,000 or an amount determined by the Commission to assure the faithful performance of the promoter. Amateur promoters have slightly different requirements. They are required to secure a bond in the amount of $1,000 or in an amount determined by the Commission. The Commission may require an increase in the bond amount on a show-by-show basis, depending on the financial obligations incurred for a specific event.