Keep Up With Professional Standards
Chances are that you definitely will need an Athlete Agent Bond given that at least 41 states and the District of Columbia have adopted the Athlete Agents Act. This act governs the relationship between student athletes, Athletic Agents and educational institutions. It works to protect the interests of student athletes and academic institutions by regulating Athletic Agent activities.
Before you gear up to represent a professional athlete, know the rules of the game by becoming familiar with your state’s surety bonding requirements for Athletic Agents. Many states will require you to hold an Athletic Agent Bond (also known as Athlete Agent Bonds, Sports Agent Bonds, Agent Bonds, Sports Athlete Agent Bonds, Talent Agent Bonds, Talent Agency Bonds).
These bonds serve to a) protect your clients against any illegal or dishonest activity on your part, b) ensure that you stay in compliance with your state’s laws, and c) make sure you maintain the professional standards set forth by the larger sports agency community.
How to Determine if You Need to Purchase an Athlete Agent Bond Today
Ask yourself these three questions to get started:
- What Are My State’s Requirements Regarding Athlete Representation? Each state has its own requirements for Sports Agents, so your first step is to find out what your state’s requirements are before contacting an athlete. Is your state one of the 41 with an Athlete Agents Act in place? Find out here.
- What is My State’s Surety Bonding Requirement? If your state requires you to have a surety bond, what are the limits you must fulfill? For example, in the State of Texas, an Athletic Agent must have a $50,000 surety bond; and if they provide financial services or plan to enter into a financial services contract with an athlete, they need a separate $100,000 surety bond.
- Can I Get Bonded as a Sports Agent in More than One State? The simple answer is, “Yes!” Be sure to ask about multi-state discounts.
Have more questions? As one of the few surety-only agencies in the country, SuretyGroup.com is able to offer preferred rates to those with excellent credit, as well as non-traditional rates to those with less than perfect credit. We also offer additional savings if you are required to post surety bonds in more than five (5) states. Get started today with our online application process. Or, if you are unsure about the requirements or how to apply for a bond, give us a call at 1‑844‑432‑6637. Our experienced and knowledgeable staff are “on deck” ready to answer your surety bonding questions.