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.
Title: Oklahoma Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker Introduction: In Oklahoma, the Real Estate Salesman Independent Contractor Agreement is a legal document that governs the working relationship between a real estate salesperson and a real estate loan broker. This agreement establishes the rights, responsibilities, and obligations of both parties involved in a real estate transaction. It ensures a fair and transparent business relationship, protecting the interests of both the salesman and the broker. Key Components of the Agreement: 1. Scope of Work: The agreement defines the tasks, duties, and responsibilities of the real estate salesperson as an independent contractor, acting on behalf of the real estate loan broker. 2. Commission Structure: The agreement outlines the commission structure, including the percentage or flat fee that the salesperson is entitled to receive for each successfully closed real estate transaction. 3. Non-Compete Clause: This clause restricts the salesperson's ability to work with competing loan brokers during or after the term of the agreement. 4. Term of the Agreement: The agreement specifies the duration of the contractual relationship between the salesperson and the loan broker. It may be either fixed-term or open-ended, depending on the parties' mutual agreement. 5. Termination Conditions: The conditions under which either party can terminate the agreement are detailed in this section. It may include breach of contract, non-performance, or agreement violation. 6. Confidentiality and Non-Disclosure: This clause ensures that both parties maintain the confidentiality of sensitive information obtained during the course of their business relationship. 7. Indemnification: The agreement defines the responsibilities of each party regarding legal claims arising from their actions, ensuring they indemnify and hold each other harmless. 8. Dispute Resolution: In case of disputes, the agreement may specify a preferred method for resolving conflicts, such as mediation or arbitration. Types of Real Estate Salesman Independent Contractor Agreements in Oklahoma: 1. Exclusive Sales Agreement: This type of agreement grants the salesperson exclusive rights to represent the loan broker and prohibits the broker from soliciting services from other salespersons. 2. Non-Exclusive Sales Agreement: This agreement allows multiple salespersons to work with the loan broker simultaneously, making it non-exclusive in nature. 3. Limited Term Agreement: This type of agreement establishes a fixed-term contractual relationship between the salesperson and the loan broker, specifying a start and end date. 4. Open-Ended Agreement: Unlike a limited-term agreement, this type has no specified termination date and can continue indefinitely until one of the parties decides to terminate it. Conclusion: The Oklahoma Real Estate Salesman Independent Contractor Agreement with a Real Estate Loan Broker is a crucial legal document that protects the interests of both parties involved in a real estate transaction. It ensures a clear understanding of the business relationship, commission structure, confidentiality obligations, and dispute resolution methods. By naming the different types of agreements available, this description provides a comprehensive overview of the various options available for real estate professionals in Oklahoma.Title: Oklahoma Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker Introduction: In Oklahoma, the Real Estate Salesman Independent Contractor Agreement is a legal document that governs the working relationship between a real estate salesperson and a real estate loan broker. This agreement establishes the rights, responsibilities, and obligations of both parties involved in a real estate transaction. It ensures a fair and transparent business relationship, protecting the interests of both the salesman and the broker. Key Components of the Agreement: 1. Scope of Work: The agreement defines the tasks, duties, and responsibilities of the real estate salesperson as an independent contractor, acting on behalf of the real estate loan broker. 2. Commission Structure: The agreement outlines the commission structure, including the percentage or flat fee that the salesperson is entitled to receive for each successfully closed real estate transaction. 3. Non-Compete Clause: This clause restricts the salesperson's ability to work with competing loan brokers during or after the term of the agreement. 4. Term of the Agreement: The agreement specifies the duration of the contractual relationship between the salesperson and the loan broker. It may be either fixed-term or open-ended, depending on the parties' mutual agreement. 5. Termination Conditions: The conditions under which either party can terminate the agreement are detailed in this section. It may include breach of contract, non-performance, or agreement violation. 6. Confidentiality and Non-Disclosure: This clause ensures that both parties maintain the confidentiality of sensitive information obtained during the course of their business relationship. 7. Indemnification: The agreement defines the responsibilities of each party regarding legal claims arising from their actions, ensuring they indemnify and hold each other harmless. 8. Dispute Resolution: In case of disputes, the agreement may specify a preferred method for resolving conflicts, such as mediation or arbitration. Types of Real Estate Salesman Independent Contractor Agreements in Oklahoma: 1. Exclusive Sales Agreement: This type of agreement grants the salesperson exclusive rights to represent the loan broker and prohibits the broker from soliciting services from other salespersons. 2. Non-Exclusive Sales Agreement: This agreement allows multiple salespersons to work with the loan broker simultaneously, making it non-exclusive in nature. 3. Limited Term Agreement: This type of agreement establishes a fixed-term contractual relationship between the salesperson and the loan broker, specifying a start and end date. 4. Open-Ended Agreement: Unlike a limited-term agreement, this type has no specified termination date and can continue indefinitely until one of the parties decides to terminate it. Conclusion: The Oklahoma Real Estate Salesman Independent Contractor Agreement with a Real Estate Loan Broker is a crucial legal document that protects the interests of both parties involved in a real estate transaction. It ensures a clear understanding of the business relationship, commission structure, confidentiality obligations, and dispute resolution methods. By naming the different types of agreements available, this description provides a comprehensive overview of the various options available for real estate professionals in Oklahoma.
