Why A Surety Bond?

[lifeisgood]

I am going to be promoting a boxing match and I was informed that I need a surety bond for $25k. Can you tell me what the purpose of a surety bond is?

[Surety Wizard]

First we need to know what type of Surety Bond is being required and see the bond form. It could be for a few things. It could be a license/permit bond for the actual event which would be required by the municipality. Or it could be for the fact that you will be collecting money in advance for ticket sales. I suggest you get a copy of the bond form and contact our office. We will look at the bond form and help you figure out the reason for the bond.