Louisiana Promoter Bond Guide
If you’re applying for a boxing and wrestling promoter license in Louisiana, you need a surety bond to prove financial security. Use this guide to learn more.
Bond Overview
- Purpose: To ensure that sports promoters follow state laws
- Who Needs It: All licensed boxing and wrestling promoters in Louisiana
- Regulating Body: The Louisiana State Boxing and Wrestling Commission
- Required Amount: $5,000
- Premium Rates: Starts $50–$100, credit-based
What Is a Louisiana Boxing and Wrestling Promoter Bond?
A Louisiana boxing and wrestling promoter bond ensures that promoters:
- Work within state laws and regulations
- Follow contractual agreements
- Pay all licensing and permit fees
This bond is required as part of the state licensing process under Louisiana Statutes 4:65.
How Much Do Boxing and Wrestling Promoter Bonds Cost in Louisiana?
Louisiana promoter bond rates start at 1% of the required $5,000 bond amount. These bonds are underwritten, so prices vary based on financial risk factors, like credit score. With strong credit, you can expect to pay $50–$150 per year.
If you’re eligible for a multi-year term discount, you can save up to 25%. Apply now to get your free quote.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Louisiana Promoter Bond Work?
A Louisiana boxing and wrestling promoter bond binds the following three parties in a legal agreement:
- Principal: The Louisiana promoter filing the bond
- Obligee: The Louisiana State Boxing and Wrestling Commission requiring the bond
- Surety: The provider issuing the bond
If you, as the principal, violate the bond terms, the surety will pay all valid claims up to the bond amount. Ultimately, it will be on you to reimburse the surety provider.
Who Needs a Boxing and Wrestling Promoter Bond?
A Louisiana boxing and wrestling promoter, also known as a sports promoter, organizes sporting events and ensures they meet state regulations. All boxing and wrestling promoters in Louisiana need this bond to get licensed and operate legally.
If you hold contests or events in venues with 1000+ seating capacity, you’ll need $15,000 or more in bond coverage. Call (800) 308-4358 to speak with a surety expert if you need coverage above the standard $5,000 limit.
How Do I Get a Boxing and Wrestling Promoter Bond in Louisiana?
SuretyBonds.com provides the fastest and easiest way to get a boxing and wrestling promoter bond. Just follow these three simple steps:
- Apply: Submit a free quote request online
- Sign: Complete the DocuSign for your indemnity agreement
- Purchase: Checkout online or over the phone and select your preferred shipping method
Once you receive your bond, sign and include it in your license application packet.
How Fast Can I Get My Bond?
We process most bond quote requests same-day. SuretyBonds.com also offers express and standard shipping options.
Depending on your shipping method, you’ll receive your bond documentation 1–3 business days after purchase.
Can I Get Bonded With Bad Credit?
Yes, you can likely still get this bond with bad credit. However, keep in mind that your credit score will impact your premium rate. Request a quote today or visit our bad credit bonding program page to learn more.
How Do I Renew My Boxing and Wrestling Promoter Bond?
Depending on your term selection, your boxing and wrestling promoter bond will last 1–3 years. When you approach your renewal date, a SuretyBonds.com representative will contact you with an invoice for the next term. Pay the invoice to renew your bond.
Note: The surety provider can cancel the bond at any time by giving the obligee 30–days notice.
How to Become a Boxing and Wrestling Promoter in Louisiana
All Louisiana boxing and wrestling promoters need to be licensed with the Boxing and Wrestling Commission to operate legally. To apply for a license, gather these materials:
- Your driver’s license
- Your surety bond documentation
- Proof of insurance
- The required fee amount for your specific license type
Then, visit the State of Louisiana Licensing page to complete and submit your application.
How Long Does It Take to Get Licensed?
Promoter license application approvals can take a few weeks to a couple of months. Not all applications are approved. The number of total licenses granted is dependent on what the Commission deems appropriate for that year.
All licenses expire on December 31st of each year and promoters are required to reapply to remain in operation.
