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 Illinois Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a legally binding contract that outlines the terms and conditions of the working relationship between a real estate salesman and a real estate loan broker in the state of Illinois. This agreement is crucial for establishing a clear understanding between the parties involved and protecting the rights and responsibilities of each party. Keywords: Illinois Real Estate Salesman Independent Contractor Agreement, Real Estate Loan Broker, contract, terms and conditions, working relationship, parties involved, rights and responsibilities. Types of Illinois Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker: 1. Exclusive Contractor Agreement: This type of agreement specifies that the real estate salesman must work exclusively for the real estate loan broker and cannot engage in any competing activities with other brokers or companies. 2. Non-exclusive Contractor Agreement: In contrast to the exclusive contractor agreement, this type of agreement allows the real estate salesman to work for other real estate brokers or organizations alongside the real estate loan broker. 3. Commission-Based Agreement: This agreement focuses on the commission structure between the real estate salesman and the real estate loan broker. It outlines how the commissions will be calculated, when they will be paid, and any additional incentives or bonuses based on performance. 4. Duration-Based Agreement: This type of agreement specifies the duration of the working relationship between the real estate salesman and the real estate loan broker. It outlines the start date and end date of the agreement and may include renewal options. 5. Termination Agreement: A termination agreement outlines the conditions under which either party can terminate the contract before its expiration. It may include termination notice periods, reasons for termination, and any associated penalties or fees. 6. Confidentiality Agreement: This type of agreement ensures that any confidential or proprietary information shared between the real estate salesman and the real estate loan broker remains confidential and protected. It may include provisions related to non-disclosure, non-compete, and non-solicitation. 7. Indemnification Agreement: An indemnification agreement protects either party from liability that may arise from the actions or omissions of the other party during the course of their working relationship. It outlines the responsibility for any damages incurred and specifies how they will be addressed. In conclusion, the Illinois Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a vital legal document that helps define the working relationship between a salesperson and a loan broker in the state of Illinois. By specifying the rights, responsibilities, and various aspects of the agreement, this contract ensures a clear understanding between the parties involved and provides a basis for resolving any potential disputes.
