The $15,000 Athlete Agent Bond is an athlete agent registration requirement that must be turned in to the Ohio Athletic Commission. Jet Insurance Company offers the bond as a financial guarantee to the State of Ohio that an athlete agent’s illegal actions will not cause monetary loss.
Get a head start with Jet’s low monthly payments or play the long game by purchasing multiple year terms; the choice is yours.
You can buy your bond for as low as $15 a month or $150 a year with Jet. Rates are based on a soft credit check and will vary; the chart below shows rates available for applicants with preferred credit ratings.
As the registration period for athlete agents is two years long, it may be prudent to purchase a 2-year term to match up with the registration or monthly payments that will be ongoing as long as you need the bond.
Applying with Jet for your bond is quick and easy! You’ll sprint through our simple application, submitting only basic information necessary. Once you are finished, an approved rate will be available to purchase right away. You will receive an emailed copy of the bond and a receipt following payment.
After you have purchased your bond, Jet can complete the bond form and file it with the Ohio Athletic Commission, if needed. However, the bond may need to be submitted along with your registration application. If this is the case, you may choose to send the bond to yourself during checkout. The bond must be submitted to the following address:
Ohio Athletic Commission
242 Federal Plaza West, Suite 405
Youngstown, OH 44503
The bond must be active during your entire time as a registered athlete agent. When your bond term is ending, Jet will send you a renewal notice through mail and email. Simply fill out the notice and send it back to keep your bond running. If you are on monthly payments, you don’t need to worry about renewals — each automatic payment made keeps your bond in good standing.
If you need to cancel your bond, send Jet a written notice (for example, an email to email@example.com) and we will notify the Commission. They will keep the bond active for an additional 30 days, which you and Jet are still held liable for that time. Once the bond is fully cancelled, monthly payments will stop and, for bond terms that were annually, Jet will calculate what refund is available for the time remaining on the bond and send it to you promptly.
Athlete agents in Ohio are expected to play fair by following Chapter 4771 of the Ohio Revised Code, when entering into contracts with athletes of an educational institution to promote the athlete or the athlete’s reputation. The agent’s role is to search for employment opportunities for the athlete, negotiating the terms of employment on behalf of the athlete.
The agent must keep accurate records, not falsely advertise, not loan money to the athlete of their family, bribe sponsors or team officers, commingle accounts and so on . If during these duties, the agent acts fraudulently, deceitfully or negligently and causes financial damage to the athlete or educational institution, a claim can be made against the Athlete Agent Bond for reimbursement.
If you receive a claim notice against your bond, contact Jet right away. Our team will assist you during this process, gathering evidence for your defense. You will receive claims paperwork within 15 days of the notice, and Jet will maintain communication with you during this time. If the claim is found to be valid, Jet will pay the injured party on your behalf. Since your actions were the cause of the financial damage, you are still responsible for paying Jet back in the amount of the claim.