North Carolina Boxing Promoters Bond Corporation

The Boxing Promoters Bond in the state of North Carolina is a financial guarantee required to obtain a license for organizing boxing events. This bond protects participants and government authorities from fraud, contract breaches, and other issues related to the organization of boxing matches.

What Does the Business of Boxing Promoters – Corporation Involve?

Boxing Promoters – Corporation is a company responsible for organizing and promoting professional boxing matches. Promoters handle event management, coordinate with fighters, venues, sponsors, and broadcasters. The main goal is to provide high-quality events, attract audiences, manage advertising campaigns, and negotiate with participants on prize distribution.

These corporations often sign contracts with boxers to help advance their careers by organizing fights and promotional events. They also collaborate with sports commissions to ensure compliance with all sporting and legal standards.

Example: Boris and His Boxing Promotion Corporation

Boris is a successful entrepreneur who founded a boxing promotion corporation. His company once organized a major international boxing match in Moscow, securing top fighters and a venue. His team launched an advertising campaign involving TV broadcasts and social media.

Boris also secured sponsorships from major companies, significantly boosting the prize fund and attracting more attention. Tickets sold out weeks before the fight, making the event a huge success.

Following this, Boris received several offers to organize more major events, both in Russia and abroad. His organizational skills and ability to attract attention have made his corporation one of the most renowned in the boxing promotion industry.

How Much Does the Boxing Promoters Bond in North Carolina Cost?

The bond costs $10,000 with a standard rate of 2.000% annually, with a minimum premium of $100.

How Does the Boxing Promoters Bond Work in North Carolina?

The Boxing Promoters Bond protects participants in boxing events from legal and contractual breaches by the promoter. If rules are broken, the bond is used to cover damages and restore fairness.

Example with Boris

Boris organized a boxing event in North Carolina, but contract breaches with participants resulted in lawsuits. A claim was filed against his bond, and Boris lost his financial guarantee, which severely impacted his business.

Key Points about the Boxing Promoters Bond

Frequently Asked Questions

Underwriting Details

This bond falls under Category 4 – Underwriter Review. Requests will be reviewed by an underwriter. The bond amount is $10,000 with a 2.000% annual rate, a minimum premium of $100, and multiple-year discounts of 25%. A signed application is required.

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Filing Method
Executed bond must be filed with the obligee by agent/principal.
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