Bond Required

[Mr. Bond]

I am a boxing promoter and I was just told that I need a security deposit for an event this weekend. It says that the Licensee shall deposit with the Director the sum of $3,000.00, in the form of a Cashier’s Check payable to the City of San Antonio, credit card, cash or a bond in such amount issued by a company licensed to do such business in Texas.

Since I don't have the $3,000 in cash - but a "bond" is an option - what type of bond can I get?

[Bond Magician]

Originally Posted by Mr. Bond

I am a boxing promoter and I was just told that I need a security deposit for an event this weekend. It says that the Licensee shall deposit with the Director the sum of $3,000.00, in the form of a Cashier’s Check payable to the City of San Antonio, credit card, cash or a bond in such amount issued by a company licensed to do such business in Texas.

Since I don't have the $3,000 in cash - but a "bond" is an option - what type of bond can I get?

I would double check with the obligee (entity requiring the bond) as to which type of Surety bond would be acceptable. You will need to obtain a specific bond form that the obligee should be able to provide. If a Surety bond is an option, there are agencies that can help you obtain a $3,000 bond.

[Mr. Bond]

Unfortunately I have already checked with the obligee and they do not have a bond form on file.

[Bond Magician]

Originally Posted by Mr. Bond

Unfortunately I have already checked with the obligee and they do not have a bond form on file.

What we generally do in this type of situation is give you a copy of a generic license bond form that we have on file. What you would do is show the bond form to the obligee to make sure that the bond form would be acceptable.