Professional Contest Surety Bond

A Professional Contest Surety Bond is a license and permit surety bond required by certain government jurisdictions. These bonds are typically required in addition to the annual professional licensing bonds for promoters or sports promoters who promote professional sporting events like boxing contests. These bonds are event specific and cover a single event and the obligations due for that event, such as payments to athletes and venue owners that the promoter promises. Or some jurisdictions will require an event specific bond that guarantees payment of all gross tax receipts owed for promoted events.