A is a type of surety bond that is required by the New Jersey State Athletic Control Board (SACB) for all promoters of professional boxing, kickboxing, and mixed martial arts events in the state of New Jersey. The bond is in the amount of $10,000 and guarantees that the promoter will comply with all applicable laws and regulations, including the payment of all taxes and fees.
The purpose of the bond is to protect the public from harm and to ensure that promoters of combat sports events are financially responsible for their actions. The SACB may investigate complaints about promoters and may revoke their license if they find that they have violated the law. In addition, the SACB may sue promoters who have violated the law to recover damages.
if a promoter fails to comply with the terms of the bond, the SACB may file a claim against the bond. The bond issuer will then be obligated to pay the SACB the amount of the claim, up to the face amount of the bond. The bond issuer may then sue the promoter to recover the amount of the claim.
How to get a New Jersey Boxing | Kickboxing | Mixed Martial Arts Promoters Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the New Jersey Boxing | Kickboxing | Mixed Martial Arts Promoters Bond will be shipped to the bond applicant. The cost of the bond is usually $150.00
1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.
In order to become a promoter in New Jersey, you must meet the following requirements:
- Be at least 21 years of age.
- Be a legal resident of New Jersey.
- Have a high school diploma or equivalent.
- Have a minimum of two years of experience in the combat sports industry.
- Pass a background check.
- Obtain a New Jersey Boxing | Kickboxing | Mixed Martial Arts Promoters Bond in the amount of $10,000.
- Complete an application with the New Jersey State Athletic Control Board (SACB)
- Pay a $300 application fee.
- Pass a promoter’s exam.
- Obtain a promoter’s license from the SACB.
Once you have met all of the requirements, you will be able to promote professional boxing, kickboxing, and mixed martial arts events in the state of New Jersey. You will be responsible for obtaining all necessary permits and licenses, as well as ensuring that your events comply with all applicable laws and regulations.