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.
Chicago Illinois Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a legally binding agreement between a real estate salesman and a real estate loan broker in the Chicago, Illinois area. This contract outlines the terms and conditions under which the real estate salesman will work as an independent contractor for the real estate loan broker. The agreement typically includes the following key provisions: 1. Parties Involved: Clearly identifies the parties involved in the agreement, including the real estate salesman (independent contractor) and the real estate loan broker. 2. Scope of Work: Details the responsibilities and duties of the independent contractor, including marketing, promoting, and selling properties on behalf of the real estate loan broker. 3. Compensation: Outlines the compensation structure for the independent contractor, including commission rates, payment terms, and any additional incentives or bonuses. 4. Duration of Agreement: Specifies the duration of the agreement, including the starting and ending dates. It may also include provisions for renewal or termination. 5. Confidentiality and Non-Compete: Includes provisions that protect the confidential information of the real estate loan broker and may restrict the independent contractor from engaging in similar activities with competitors during and after the agreement. 6. Marketing and Advertising: Specifies the marketing strategies and materials that the independent contractor can use to promote the properties and services provided by the real estate loan broker. 7. Independent Contractor Status: Clarifies that the independent contractor is not an employee of the real estate loan broker but operates as an independent business entity responsible for their taxes, insurance, and any other legal obligations. Possible different types of Chicago Illinois Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker: 1. Exclusive Sales Agreement: This type of agreement may grant the independent contractor the exclusive right to sell the real estate loan broker's properties within a specific geographic area or for a certain period. 2. Non-Exclusive Sales Agreement: In this agreement, the independent contractor is not granted exclusivity and can work with multiple real estate loan brokers in selling properties. 3. Commercial Real Estate Sales Agreement: This agreement focuses on the sale and marketing of commercial properties, such as office buildings, retail spaces, or industrial properties. 4. Residential Real Estate Sales Agreement: This agreement pertains to the sale and promotion of residential properties, including single-family homes, condominiums, or townhouses. 5. Rental Property Management Agreement: This type of agreement may involve the independent contractor assisting the real estate loan broker in managing rental properties, including finding tenants, collecting rent, and addressing maintenance issues. In conclusion, a Chicago Illinois Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a contractual arrangement that defines the working relationship between a real estate salesman and a real estate loan broker. This agreement establishes the rights, responsibilities, and compensation of the independent contractor while outlining the scope of work and expectations for both parties involved.Chicago Illinois Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a legally binding agreement between a real estate salesman and a real estate loan broker in the Chicago, Illinois area. This contract outlines the terms and conditions under which the real estate salesman will work as an independent contractor for the real estate loan broker. The agreement typically includes the following key provisions: 1. Parties Involved: Clearly identifies the parties involved in the agreement, including the real estate salesman (independent contractor) and the real estate loan broker. 2. Scope of Work: Details the responsibilities and duties of the independent contractor, including marketing, promoting, and selling properties on behalf of the real estate loan broker. 3. Compensation: Outlines the compensation structure for the independent contractor, including commission rates, payment terms, and any additional incentives or bonuses. 4. Duration of Agreement: Specifies the duration of the agreement, including the starting and ending dates. It may also include provisions for renewal or termination. 5. Confidentiality and Non-Compete: Includes provisions that protect the confidential information of the real estate loan broker and may restrict the independent contractor from engaging in similar activities with competitors during and after the agreement. 6. Marketing and Advertising: Specifies the marketing strategies and materials that the independent contractor can use to promote the properties and services provided by the real estate loan broker. 7. Independent Contractor Status: Clarifies that the independent contractor is not an employee of the real estate loan broker but operates as an independent business entity responsible for their taxes, insurance, and any other legal obligations. Possible different types of Chicago Illinois Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker: 1. Exclusive Sales Agreement: This type of agreement may grant the independent contractor the exclusive right to sell the real estate loan broker's properties within a specific geographic area or for a certain period. 2. Non-Exclusive Sales Agreement: In this agreement, the independent contractor is not granted exclusivity and can work with multiple real estate loan brokers in selling properties. 3. Commercial Real Estate Sales Agreement: This agreement focuses on the sale and marketing of commercial properties, such as office buildings, retail spaces, or industrial properties. 4. Residential Real Estate Sales Agreement: This agreement pertains to the sale and promotion of residential properties, including single-family homes, condominiums, or townhouses. 5. Rental Property Management Agreement: This type of agreement may involve the independent contractor assisting the real estate loan broker in managing rental properties, including finding tenants, collecting rent, and addressing maintenance issues. In conclusion, a Chicago Illinois Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a contractual arrangement that defines the working relationship between a real estate salesman and a real estate loan broker. This agreement establishes the rights, responsibilities, and compensation of the independent contractor while outlining the scope of work and expectations for both parties involved.
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.
