Ohio Professional Wrestling Promoter Bond

An Ohio Professional Wrestling Promoter Bond is a type of surety bond required by the Ohio Athletic Commission for anyone who wants to promote professional wrestling events in the state. It’s essentially a financial guarantee that the promoter will fulfill their obligations and adhere to the rules set by the Commission. The minimum amount required for the bond is $10,000. However, the Commission may increase this amount at their discretion based on the size and scale of the events the promoter plans to hold. The cost of the surety bond is usually between 1% and 3% of the bond amount, subject to a minimum premium and fees of $150. Surety1 will shop its many markets to procure the right price at the right terms.

How to Get an Ohio Professional Wrestling Promoter Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Ohio Professional Wrestling Promoter Bond will be shipped to the bond applicant.
^{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.

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What does the surety bond do?

The Ohio Professional Wrestling Promoter Bond serves two main purposes:

1. Protection for participants:
   • Financial compensation: If the promoter fails to pay wrestlers, referees, judges, or other event personnel as agreed upon, the participants can make a claim against the bond to recover their lost wages or fees. This helps to ensure that those involved in the event are not financially harmed by the promoter’s actions.
   • Compliance with regulations: The bond also acts as an incentive for promoters to comply with the Ohio Athletic Commission’s rules and regulations regarding safety, participant conduct, and event logistics. If the promoter violates these rules and a claim is filed against the bond, they may be liable for financial penalties.

2. Protection for the public:
   • Safety and welfare: By encouraging compliance with safety regulations, the bond helps to ensure the well-being of wrestlers and spectators. This includes proper medical supervision, equipment standards, and adherence to match duration and intensity restrictions.
   • Financial protection: If the promoter cancels an event without proper notice or refunding ticket sales, the bond can be used to compensate ticketholders for their losses. This helps to prevent the public from being financially harmed by unforeseen circumstances.

In summary, the Ohio Professional Wrestling Promoter Bond acts as a financial safety net for both participants and the public, ensuring some level of financial protection and encouraging promoters to follow the rules and regulations set by the Ohio Athletic Commission.

If the surety company pays a claim on the bond, it will seek restitution from the bond principal (licensee).