Surety Bond Encyclopedia

Professional Boxing Promoter ($15,000) Bond - Statewide in Pennsylvania

Brief Summary

The State Athletic Commission will not treat a boxing promoter registration as valid until the bond is on file. Bonding instead of depositing cash matters here: a cash or certified check deposit made in place of the bond is held for a full year before it can come back to you, while a surety bond leaves your money free for purses, venue costs and the event itself.

Pennsylvania requires every licensed professional boxing promoter, and every foreign copromoter before a permit is issued, to file a surety bond with the State Athletic Commission. The Commission's current Bond Form for Professional Boxing Promoter is written at $15,000, payable to the Commonwealth of Pennsylvania, State Athletic Commission. The bond guarantees the promoter's contractual obligations to contestants, managers and other licensees and payment of all license and permit fees.

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How to Apply for a Professional Boxing Promoter ($15,000) Bond:

Download the Commission's Bond Form for Professional Boxing Promoter and have the surety complete it at the required amount.
Confirm the amount with the State Athletic Commission if the venue seats more than 10,000.
Complete the boxing promoter application, form OSOC-102-1-73.
Obtain a criminal record check to include with the application.
Mail the application, bond, $100 license fee and $25 bond filing fee, by check or money order to the Commonwealth of Pennsylvania, to the State Athletic Commission, PO Box 61975, Harrisburg, PA 17106.
Submit each card for approval at least ten days before the event.

Detailed Information About the Pennsylvania Professional Boxing Promoter ($15,000) Bond:

The amount is set by the Department, not fixed in the statute

5 Pa.C.S. 1131 requires a promoter to execute and file a surety bond before any license or renewal is issued, in a reasonable amount of not less than $3,000 as the Department determines. The Commission's current Bond Form for Professional Boxing Promoter carries a penal sum of $15,000.

Other Commission sources state different figures, which is where promoters get tripped up. The regulation at 58 Pa. Code 13.1 ties the amount to seating capacity, with $7,500 where the venue seats less than 10,000 and $25,000 where it seats more than 10,000. The Commission's Boxing Promoter Requirements sheet says a bond of not less than $10,000 must be on file before the event. If your venue seats more than 10,000, or you are unsure which figure applies to your card, confirm the required amount with the State Athletic Commission before the bond is issued.

What the bond guarantees

The bond is conditioned on the promoter faithfully performing its obligations under the boxing provisions of the Athletic Code and Commission regulations, including fulfilling contractual obligations to contestants, managers and other licensees and paying all license and permit fees. The surety's aggregate liability in any one year is limited to the bond amount. Recovery on the bond is had in the same manner as penalties are recoverable at law.

Under 58 Pa. Code 13.3, promoters must pay license fees and taxes due the Commonwealth within 48 hours after each event. Missing that deadline can forfeit all or part of the bond or funds on deposit.

Filing details

The bond must be on the Commission's form, and it must be on file with the Commission before registration is valid.
A $25 filing fee, payable to the Commonwealth of PA, accompanies each bond.
In place of a bond, a promoter may deposit cash, a certified check, a letter of credit or qualifying United States or Commonwealth obligations in an equivalent amount. That security is not returned until one year after deposit unless a surety bond is substituted.
The bond can be continued by continuation certificate, and the surety may terminate it on 30 days' written notice.

The license itself

The promoter license fee is $100 and the license expires December 31 following the date it was issued. The application (form OSOC-102-1-73, REV. 12/24) must include the bond and a criminal record check, and bouts should be submitted for approval at least ten days before the event.

Eligibility and Requirements for a Pennsylvania Professional Boxing Promoter ($15,000) Bond:

Surety bond on the Commission's prescribed form, approved by the Office of Attorney General.
Obligee: Commonwealth of Pennsylvania, State Athletic Commission.
Penal sum of $15,000 on the current Commission bond form, with 58 Pa. Code 13.1 setting $7,500 or $25,000 by seating capacity.
Bond on file before the promoter registration is valid.
License fees and taxes paid within 48 hours after each event to avoid bond forfeiture.
Cash, certified check, letter of credit or government obligations accepted in place of the bond, held for one year.

Pennsylvania Professional Boxing Promoter ($15,000) Bond FAQs:

Is the bond $15,000, $10,000 or something else?

The statute sets only a floor of $3,000 and leaves the amount to the Department. The Commission's current boxing promoter bond form is written at $15,000. The Commission's requirements sheet states not less than $10,000, and 58 Pa. Code 13.1 sets $7,500 for venues under 10,000 seats and $25,000 above 10,000. Confirm the figure for your venue with the Commission before the bond is issued.

Does a foreign copromoter need a bond?

Yes. Under 5 Pa.C.S. 1131 a foreign copromoter must execute and file a surety bond before the Commission issues its permit, on the same terms that apply to licensed promoters.

Can I post cash instead of buying a bond?

Yes. The statute and 58 Pa. Code 13.1 allow cash, a certified check, a letter of credit or direct obligations of the United States or the Commonwealth in an equivalent amount. The deposit stays with the Commission for one year unless a surety bond is substituted, and it is returned only if no claim is outstanding.

What can cause a claim against the bond?

Failing to meet contractual obligations to boxers, managers or other licensees, or failing to pay license and permit fees. 58 Pa. Code 13.3 also says that not paying fees or taxes within 48 hours after an event can forfeit all or part of the bond.

When does the promoter license expire?

Every license under the Athletic Code expires on December 31 following the date it was issued. The promoter license fee is $100. A new license or renewal is not issued until the bond is filed.