If you are engaged as a mixed martial arts promoter in Pennsylvania, you are required under the Boxing Act, 5 Pa C.S. 301 et. seq. to file a Pennsylvania Mixed Martial Arts Promoter Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Pennsylvania Mixed Martial Arts Promoter Bond holds you accountable for your business decisions.
By possessing a Pennsylvania Mixed Martial Arts Promoter Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.