What is a Wisconsin Boxing or MMA Promoter Bond?
A surety bond is required in Wisconsin for issuance of a license to conduct business as a boxing or mixed martial arts professional club or promoter pursuant to section 444.035, Wisconsin Statutes, and applicable sections of the Wisconsin Administrative Code. The bond is sometimes referred to as Unarmed Combat Sports Promoter License Bond in the state of Wisconsin and is mandated by the Wisconsin Department of Safety and Professional Services. The coverage amount required for the bond is $10,000 and the term of this surety bond is from the date of its signing by the bonded principal and the surety company for the entire period of an unexpired boxing or mixed martial arts professional club or promoter’s license until terminated by the surety.
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Why is a Wisconsin Boxing or MMA Promoter Bond Required?
The purpose of this surety bond is to secure or guarantee payment of all fees and costs related to the issuance of a boxing or mixed martial arts professional club or promoter license pursuant to the Wisconsin Statutes. An action may be made against this surety bond for up to one year after the date on which the boxing or mixed martial arts professional cub or promoter’s license expires or the bond is terminated.