Texas Athlete Agent Bond

Texas Athlete Agent Bond

Individuals who act as athlete recruiters or solicitors must be licensed as an athlete agent with the Texas Secretary of State’s Registration Unit. To be eligible for a Certificate of Authority, and to maintain a license, an Athlete Agent Bond is required of all applicants. 

APPLY FOR YOUR BOND

Jet Insurance Company provides the Athlete Agent Bond as a financial guarantee to the Texas Secretary of State that the licensee will follow applicable athlete agent regulations and fulfill contractual obligations. If the athlete agent commits a license violation that causes financial damages to the athlete themselves or a higher education institution, the surety bond may be used as a form of restitution.

What Is the Limit and Cost of the Texas Athlete Agent Bond?

The required amount of your Athlete Agent Bond will depend on the details of your athlete agent contract(s). If you are providing a general contract only, you must hold a $50,000 bond. If you are providing financial services or entering into a financial services contract with an athlete, a $100,000 bond is required.

At Jet, rates for the Athlete Agent Bond will be a fraction of the required bond limit and are based on the personal credit of the applicant. If you are seeking the higher of the two limits, our underwriters may require additional information for review before we’re able to send you an approved rate. 

For those seeking a $50,000 Athlete Agent Bond, take a look at our preferred tier rate options below.

Bond LimitMonthly1-year
50,000$50$500
Texas Athlete Agent Bond Pricing

Our monthly payment option is exclusive to Jet and is a great option if you are wanting to skip the renewal process. Once enrolled, your Athlete Agent Bond will remain active with the Secretary of State’s Registration Unit until cancellation is officially sought. 

Who Needs an Athlete Agent Bond In the State of Texas?

If you are looking to recruit or solicit an athlete into a professional sports contract or a financial services contact, you must apply for a Certificate of Authority with the Texas Secretary of State’s Registration Unit. According to the Registration Unit, an “athlete” is defined as a person who participates in intercollegiate sports at an institution of higher education such as a college or university.

If an athlete you are representing is part of a national professional sports association, you must be registered with at least one national professional sports association, such as the National Basketball Players Association or the Major League Baseball Payers Association

If you are planning on representing an athlete that does not have a national professional sports association, you will be known as a limited athlete agent and are not required to be certified through a national professional sports association.

Whether you are an athlete agent or a limited athlete agent, you will need an Athlete Agent Bond to qualify for and maintain licensure with the Texas Secretary of State.

How to Apply for the Texas Athlete Agent Bond With Jet

Jets application for the Athlete Agent Bond is fully online and can be completed anytime and anywhere for your convenience! The process will begin by asking you for some general information such as your contact details, an indication of the required bond limit, and your social security number for a soft credit check (this won’t affect your current score). Once submitted, a Jet underwriter will review your information and have approved rate options sent to your email. If further details are needed, we will contact you right away so that we can move forward with the bond process. 

As soon as you’ve received your approved bond prices, simply choose the best option for you and fulfill the payment. Jet will then send you a copy of your receipt and bond form instantly. 

How Does the Athlete Agent Bond Get Filed with the Texas Secretary of State?

The original signed and sealed Athlete Agent Bond must be submitted to the Texas Secretary of State’s Registration Unit along with your completed initial or renewal license application. The paperwork required can be found on the Athlete Agent Forms webpage. 

The bond form and application paperwork must be sent to the following mailing address:

Texas Secretary of State
Registration Unit
PO Box 13193
Austin, TX 78711

What Happens if I Need to Cancel My Texas Athlete Agent Bond?

You can cancel your Athlete Agent Bond with Jet at any time! All we ask is that you send us a written cancellation request to [email protected]. Once received, the Jet team will send a termination notice to the Texas Secretary of State’s office. The liability of your bond will then be released within a 60-day period. 

If you are enrolled in Jet’s monthly payment plan, you will be required to continue payments during the 60-day grace period as your bond is technically still active during this time. Once these steps have been completed, all future payments will cease and your bond will be officially cancelled. 

It is important to note that the Texas Secretary of State requires your Athlete Agent Bond to remain active for a period of two years following the end of your active license or contract with an athlete.

How to Renew the Texas Athlete Agent License Bond

Jet’s monthly payment enrollees don’t have to worry about renewing the Athlete Agent Bond! Your bond will remain active with the Texas Secretary of State’s Registration Unit as long as payments are fulfilled each month.

As for bondholders who purchased the Athlete Agent Bond in full, Jet will send you a renewal invoice via mail and email well in advance of your bond term expiration date. To successfully renew, simply complete the standard payment due and your bond will be all set for another term. It’s that easy.

How Does an Athlete Agent Avoid Texas Surety Bond Claims?

Licensed athlete agents are expected to comply with all regulations pursuant to Title 13, Chapter 2051 of the Texas Occupation Code, as well as fulfill their contractual obligations. If license violations are committed, the Secretary of State’s office may inflict license and/or criminal penalties against the agent. It is also likely that anyone who has been financially damaged due to the agent’s transgressions such as a higher education institution or an athlete under contract may pursue civil action against them. This could lead to a bond claim.

A claim on the Athlete Agent Bond will typically only occur if the agent commits a breach of contract that causes financial harm to an athlete under contract or the athlete’s college or university. However, the damaged party will be required to pursue civil action against the agent without any help from the Texas Secretary of State. In cases where a Texas court rules in favor of the claimant, the surety bond may be used as restitution to cover any damages incurred by the harmed party. 

It is in your best interest to try and resolve any issues with the Texas Secretary of State, a higher education institution, or the athlete under contract before serious and costly penalties ensue.

What Happens if I Get a Texas Athlete Agent Bond Claim?

If you receive a Texas court-ordered bond claim notice, contact Jet as soon as possible. Once contacted, our team will brief you on how the claim process works and will ask that you provide us with all available information and documentation for our own review and investigation of the alleged transgression.

Per the Athlete Agent Bond form, Jet Insurance Company is legally obligated to payout justified claims up to the amount of the bond (payouts will never exceed the bond limit). You, the athlete agent, are responsible for your actions and are required to reimburse Jet if a bond claim payout is made on your behalf. Failure to complete this requirement will lead to future difficulties in obtaining surety bonds within the State of Texas, especially the Athlete Agent Bond that is mandated for licensure as an athlete agent.

Texas Athlete Agent Bond Form

Notary Bond Application:

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: