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.
Alabama Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a legally binding document that outlines the terms and conditions between a real estate salesman and a real estate loan broker in the state of Alabama. This agreement is crucial for establishing a professional relationship and ensuring the rights and responsibilities of both parties are protected. Keywords: Alabama, real estate salesman, independent contractor agreement, real estate loan broker There are different types of Alabama Real Estate Salesman Independent Contractor Agreements with Real Estate Loan Brokers, including: 1. Exclusive Agreement: This type of agreement establishes an exclusive relationship between the real estate salesman and the loan broker. It means that the salesman is exclusively representing the loan broker's interests and cannot work with any other loan broker during the agreement period. 2. Non-exclusive Agreement: In contrast to an exclusive agreement, a non-exclusive agreement allows the real estate salesman to work with multiple loan brokers simultaneously. This gives the salesman more flexibility in their business practices and expands their opportunities for securing loans for clients. 3. Commission Agreement: A commission agreement specifies the commission structure and payment terms between the real estate salesman and the loan broker. It outlines how the salesman will be compensated for their services, which is typically a percentage of the loan amount or a flat fee per successful transaction. 4. Duration of Agreement: Another variation of the Alabama Real Estate Salesman Independent Contractor Agreement is based on the duration of the agreement. It can be a fixed-term agreement, which is valid for a specific period, such as 1 year or 2 years. Alternatively, it can be an open-ended agreement, where there is no set termination date, and the agreement remains in effect until either party terminates it with prior notice. 5. Duties and Responsibilities: This type of agreement also highlights the specific duties and responsibilities of the real estate salesman. It typically includes tasks such as prospecting for clients, marketing loan products, assisting in loan application processes, and maintaining a thorough understanding of real estate and loan regulations. 6. Confidentiality and Non-Compete Clause: A comprehensive Alabama Real Estate Salesman Independent Contractor Agreement may also include confidentiality and non-compete clauses. These clauses ensure that the real estate salesman does not disclose any confidential information about the loan broker's clients or business practices and prevents the salesman from entering into direct competition within a specific geographic area and timeframe after the agreement terminates. In conclusion, the Alabama Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a vital document that establishes the terms of the professional relationship between a real estate salesman and a loan broker. Different variations of this agreement exist, including exclusive and non-exclusive agreements, commission-based agreements, agreements with specified durations, and those that outline specific duties and responsibilities. Additionally, confidentiality and non-compete clauses are also commonly included to protect the interests of the parties involved.
