Business Broker Referral Agents
Independent Contractor Agreement
Business Broker Referral Agents is a fictitious business name for PacificBusinessAdvisors.net, a licensed California real estate brokerage firm since 1987. Business Broker Referral Agents operates as a referral source and is not engaged in listing, selling, leasing, managing, counseling or appraising property. All referrals are directed to business brokers at PacificBusinessAdvisors.net.
In consideration of Broker allowing Contractor to be licensed through it, Broker agrees to pay Contractor 10% of any fees paid to Broker as a direct result of referrals made by Contractor. All referral fees earned by Contractor shall be paid within 5 business days of receipt of commissions by Broker. Contractor agrees that while this Agreement is in effect Contractor shall:
- Hold an active real estate license issued by the California Department of Real Estate;
- Complete all Continuing Education Courses required to maintain an active real estate license in the State of California;
- Not list any real estate or businesses for sale, exchange, lease, or rental, or represent any buyers, sellers, landlords, tenants, or other persons in any real estate transaction, or consult with them regarding real estate or business sales matters;
- Report any changes of address to Broker and the California Department of Real Estate within 3 days;
- Notify Broker within 24 hours of receiving any notice of complaint from the California Department of Real Estate; and
- Pay all state and federal taxes on referral commissions received.
It is expressly agreed and understood that Contractor is an independent contractor and not an employee of Broker. It is agreed and understood that Broker will not withhold or pay on behalf of Contractor any amounts for federal, state, or local income taxes, unemployment compensation, Workers’ Compensation Insurance, or assume any other obligations which may be imposed upon an employer.
Broker shall not be liable to Contractor for any expenses incurred by him or her, or for any of his or her acts, and Contractor shall have no authority to bind Broker by any promise or representation whatsoever.
Contractor agrees to indemnify and hold Broker, Pacific Business Advisors and any of their agents and employees harmless from any claim for damages asserted by reason of any act or omission by Contractor arising out of the performance of this Agreement, such indemnification to include reasonable attorneys fees, costs and expenses incurred in defense of any such claim, or based upon any violation of any statute , ordinance or regulation. Contractor shall also indemnify the parties against any liability and loss in connection with and shall assume full responsibility for payment of federal, state, and local taxes or contributions imposed or required under unemployment insurance, social security, and income tax laws, with respect to Contractors performance of this Agreement.
This Agreement and the association created hereby may be terminated by either party, with or without cause, at any time upon written notice given to the other.
Any notices or communications to be given to either party (other than referrals) shall be in writing and delivered by either personal delivery or by mail addressed as follows:
Business Broker Referral Agents
5737 Kanan Road, Suite 630
Agoura Hills, CA 91301
Attention: M. Chulak