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.
Virginia Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a legal document that establishes a working relationship between a real estate salesman and a real estate loan broker in the state of Virginia. This agreement outlines the terms and conditions under which the real estate salesman will operate as an independent contractor for the loan broker. The Virginia Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker includes key provisions such as: 1. Parties involved: This section specifies the names and contact information of both the real estate salesman and the real estate loan broker. 2. Scope of services: The agreement defines the specific services that the real estate salesman will provide on behalf of the loan broker. This may include listing and selling properties, negotiating deals, assisting with loan applications, and related tasks. 3. Independent contractor relationship: This section clarifies that the real estate salesman is an independent contractor and not an employee of the loan broker. It outlines the responsibilities and liabilities of both parties, highlighting that the real estate salesman is responsible for their own taxes, insurance, and business expenses. 4. Compensation: The agreement details the compensation structure for the real estate salesman. This may include a commission-based model, where the salesman receives a percentage of the sales or loan amount, or other agreed-upon methods of payment. 5. Duration and termination: The agreement specifies the duration of the contract and the conditions under which either party can terminate the agreement. This may include events such as breach of contract, non-performance, or mutual agreement. 6. Non-compete and confidentiality: This section addresses any non-compete clauses, which may restrict the real estate salesman from engaging in similar work with competitors during or after the contract period. It also includes confidentiality provisions regarding sensitive information shared during the course of the business relationship. Types of Virginia Real Estate Salesman Independent Contractor Agreements with Real Estate Loan Brokers may vary depending on specific terms and conditions agreed upon by the parties. Some variations may include: 1. Exclusive agreement: This type of agreement may specify that the real estate salesman exclusively works with the loan broker and cannot work with any competitor during the contract period. 2. Non-exclusive agreement: In contrast, a non-exclusive agreement allows the real estate salesman to work with multiple loan brokers concurrently, expanding their client base and opportunities. 3. Commission structure: The agreement may outline a commission structure that considers different variables such as property type, sales volume, or loan amount. This ensures a fair and transparent approach to compensation. 4. Marketing and advertising provisions: In some cases, the agreement may include clauses regarding marketing and advertising responsibilities, detailing how promotional activities will be conducted and shared between the parties. It is important to consult with legal professionals familiar with Virginia real estate laws and regulations to draft an agreement that complies with state-specific requirements and protects the interests of both the real estate salesman and the real estate loan broker.Virginia Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker is a legal document that establishes a working relationship between a real estate salesman and a real estate loan broker in the state of Virginia. This agreement outlines the terms and conditions under which the real estate salesman will operate as an independent contractor for the loan broker. The Virginia Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker includes key provisions such as: 1. Parties involved: This section specifies the names and contact information of both the real estate salesman and the real estate loan broker. 2. Scope of services: The agreement defines the specific services that the real estate salesman will provide on behalf of the loan broker. This may include listing and selling properties, negotiating deals, assisting with loan applications, and related tasks. 3. Independent contractor relationship: This section clarifies that the real estate salesman is an independent contractor and not an employee of the loan broker. It outlines the responsibilities and liabilities of both parties, highlighting that the real estate salesman is responsible for their own taxes, insurance, and business expenses. 4. Compensation: The agreement details the compensation structure for the real estate salesman. This may include a commission-based model, where the salesman receives a percentage of the sales or loan amount, or other agreed-upon methods of payment. 5. Duration and termination: The agreement specifies the duration of the contract and the conditions under which either party can terminate the agreement. This may include events such as breach of contract, non-performance, or mutual agreement. 6. Non-compete and confidentiality: This section addresses any non-compete clauses, which may restrict the real estate salesman from engaging in similar work with competitors during or after the contract period. It also includes confidentiality provisions regarding sensitive information shared during the course of the business relationship. Types of Virginia Real Estate Salesman Independent Contractor Agreements with Real Estate Loan Brokers may vary depending on specific terms and conditions agreed upon by the parties. Some variations may include: 1. Exclusive agreement: This type of agreement may specify that the real estate salesman exclusively works with the loan broker and cannot work with any competitor during the contract period. 2. Non-exclusive agreement: In contrast, a non-exclusive agreement allows the real estate salesman to work with multiple loan brokers concurrently, expanding their client base and opportunities. 3. Commission structure: The agreement may outline a commission structure that considers different variables such as property type, sales volume, or loan amount. This ensures a fair and transparent approach to compensation. 4. Marketing and advertising provisions: In some cases, the agreement may include clauses regarding marketing and advertising responsibilities, detailing how promotional activities will be conducted and shared between the parties. It is important to consult with legal professionals familiar with Virginia real estate laws and regulations to draft an agreement that complies with state-specific requirements and protects the interests of both the real estate salesman and the real estate loan broker.
