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.
The Arkansas Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a legally binding agreement between a real estate salesperson and a loan broker in the state of Arkansas. This agreement outlines the terms and conditions under which the salesperson will operate as an independent contractor for the loan broker, specifically in the context of real estate sales. Keywords: Arkansas Real Estate Salesman, Independent Contractor Agreement, Real Estate Loan Broker, real estate salesperson, loan broker, agreement, terms and conditions, independent contractor, real estate sales. There may be different types of Arkansas Real Estate Salesman Independent Contractor Agreements with Real Estate Loan Brokers, which can be categorized based on their specific provisions and the goals they aim to achieve. Some possible types of agreements include: 1. Exclusive Sales Agreement: This type of agreement may grant the salesperson exclusive rights to represent the loan broker in real estate transactions within a designated geographical area or for a specific property. Keywords: Exclusive Sales Agreement, exclusive rights, designated geographical area, specific property. 2. Non-Exclusive Sales Agreement: This type of agreement allows the salesperson to represent multiple loan brokers or engage in other real estate-related activities while working as an independent contractor for the loan broker. Keywords: Non-Exclusive Sales Agreement, multiple loan brokers, real estate-related activities. 3. Commission Structure Agreement: This type of agreement specifies the commission structure for the salesperson's services, including the percentage of commission that the salesperson will receive for successful real estate sales or mortgage loan transactions. Keywords: Commission Structure Agreement, commission, percentage, successful real estate sales, mortgage loan transactions. 4. Termination Clause Agreement: This type of agreement outlines the conditions under which the agreement can be terminated by either party, such as breach of contract, failure to meet performance standards, or changes in circumstances. Keywords: Termination Clause Agreement, termination conditions, breach of contract, performance standards, changes in circumstances. 5. Confidentiality Agreement: This type of agreement establishes the obligation of the salesperson to maintain the confidentiality of sensitive information shared by the loan broker during the course of their business relationship. Keywords: Confidentiality Agreement, sensitive information, business relationship. In conclusion, the Arkansas Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a crucial legal document that regulates the working relationship between a real estate salesperson and a loan broker. Different types of agreements exist to cater to specific requirements and goals, such as exclusive or non-exclusive representation, varied commission structures, termination conditions, and confidentiality obligations.
