What is a Florida Boxing Promoter Bond?
A Boxing Promoter Bond is a surety bond required by the Florida State Boxing Commission to ensure promoters meet associated payment and performance obligations. The bond also guarantees compliance with laws and regulations governing the license and event, and protects against fraudulent activity or misrepresentation by the professional club. Through these surety bond requirements, security and protection is provided to both athletes and venue owners related to contractual payment and performance commitments.
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Why is a Florida Boxing Promoter Bond Required?
The condition of the Boxing Promoter Surety Bond is such that the bonded promoter engaged in business as a Promoter or Foreign Co-Promoter as defined by Chapter 548, Florida Statutes pays all fees and taxes as required to be paid by the Commission and faithfully complies with Chapter 548, Florida Statutes, and the rules set forth by the Commission. Secondly, the promoter must fulfill all contractual obligations with others as required.
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