An independent contractor is a person or business who performs services for another person under an express or implied agreement and who is not subject to the other's control, or right to control, the manner and means of performing the services. The person who hires an independent contractor is not liable to others for the acts or omissions of the independent contractor. An independent contractor is distinguished from an employee, who works regularly for an employer. The exact nature of the independent contractor's relationship with the hiring party is important since an independent contractor pays their own Social Security, income taxes without payroll deduction, has no retirement or health plan rights, and often is not entitled to worker's compensation coverage.
There are a number of factors which to consider in making the decision whether people are employees or independent contractors. No one factor is controlling, and the characterization of the relationship by the parties is also not controlling.
One of the most important considerations is the degree of control exercised by the company over the work of the workers. An employer has the right to control an employee. It is important to determine whether the company had the right to direct and control the workers not only as to the results desired, but also as to the details, manner and means by which the results were accomplished. If the company had the right to supervise and control such details of the work performed, and the manner and means by which the results were to be accomplished, an employer-employee relationship would be indicated. On the other hand, the absence of supervision and control by the company would support a finding that the workers were independent contractors and not employees. Whether or not such control was exercised is not the determining factor, it is the right to control which is key.
Another factor to be considered is the connection and regularity of business between the independent contractor and the hiring party. Important factors to be considered are separate advertising, procurement of licensing, maintenance of a place of business, and supplying of tools and equipment by the independent contractor. If the service rendered is to be completed by a certain time, as opposed to an indefinite time period, a finding of an independent contractor status is more likely.
Michigan Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a legal document that outlines the terms and conditions between a real estate salesman and a real estate loan broker in Michigan. It defines the agreement and relationship between the parties involved while protecting their rights and interests. This agreement typically includes various clauses and provisions that ensure transparency and fairness in the business relationship. Key aspects covered within this contract may include compensation, responsibilities, termination, confidentiality, and dispute resolution. Here are some important elements that might be addressed in different types of Michigan Real Estate Salesman Independent Contractor Agreements with Real Estate Loan Broker: 1. Compensation: This section outlines how the salesman will be compensated by the loan broker for their services. It may specify whether the compensation will be commission-based, flat fee, or a combination of both. Additionally, this clause may indicate the frequency and method of payment, such as monthly or upon closing a sale. 2. Responsibilities and Obligations: This section details the duties and responsibilities of the real estate salesman. It may include obligations related to lead generation, client representation, marketing, property showings, and other tasks related to real estate sales. The loan broker's responsibilities, such as providing support, training, or access to loan products, may also be outlined. 3. Term and Termination: This segment specifies the duration of the agreement, which may be for a fixed term or ongoing until either party terminates it. It should outline the conditions and procedures for terminating the agreement, including notice periods and grounds for termination, such as breach of contract or non-performance. 4. Confidentiality and Non-Disclosure: This clause ensures that any confidential information or trade secrets exchanged between the parties during the course of their business relationship remain protected. It may require the real estate salesman to keep client information, company strategies, or proprietary loan products confidential. 5. Dispute Resolution: This section outlines the process for resolving any disputes or conflicts that may arise during the term of the agreement. It may require the parties to engage in mediation or arbitration before pursuing legal action, promoting efficient and cost-effective resolution methods. These are some of the key components that can be found in a Michigan Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker. However, it is essential to consult a legal professional to ensure the specific terms and conditions comply with Michigan state laws and regulations.Michigan Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a legal document that outlines the terms and conditions between a real estate salesman and a real estate loan broker in Michigan. It defines the agreement and relationship between the parties involved while protecting their rights and interests. This agreement typically includes various clauses and provisions that ensure transparency and fairness in the business relationship. Key aspects covered within this contract may include compensation, responsibilities, termination, confidentiality, and dispute resolution. Here are some important elements that might be addressed in different types of Michigan Real Estate Salesman Independent Contractor Agreements with Real Estate Loan Broker: 1. Compensation: This section outlines how the salesman will be compensated by the loan broker for their services. It may specify whether the compensation will be commission-based, flat fee, or a combination of both. Additionally, this clause may indicate the frequency and method of payment, such as monthly or upon closing a sale. 2. Responsibilities and Obligations: This section details the duties and responsibilities of the real estate salesman. It may include obligations related to lead generation, client representation, marketing, property showings, and other tasks related to real estate sales. The loan broker's responsibilities, such as providing support, training, or access to loan products, may also be outlined. 3. Term and Termination: This segment specifies the duration of the agreement, which may be for a fixed term or ongoing until either party terminates it. It should outline the conditions and procedures for terminating the agreement, including notice periods and grounds for termination, such as breach of contract or non-performance. 4. Confidentiality and Non-Disclosure: This clause ensures that any confidential information or trade secrets exchanged between the parties during the course of their business relationship remain protected. It may require the real estate salesman to keep client information, company strategies, or proprietary loan products confidential. 5. Dispute Resolution: This section outlines the process for resolving any disputes or conflicts that may arise during the term of the agreement. It may require the parties to engage in mediation or arbitration before pursuing legal action, promoting efficient and cost-effective resolution methods. These are some of the key components that can be found in a Michigan Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker. However, it is essential to consult a legal professional to ensure the specific terms and conditions comply with Michigan state laws and regulations.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
