Other

TXR 2302Statement of Understanding

This one-page form serves as an annual attestation by a sales associate confirming the key terms of their independent contractor relationship with the sponsoring broker. The associate confirms nine specific conditions including license status, payment of own expenses, commission-only compensation, self-employment tax responsibility, schedule independence, and at-will termination provisions. It is suggested the form be executed annually to maintain documentation of the independent contractor status.

Source: TXR
Form Number: 2302
Category: Other
Revised: August 16, 2007

Used For

Residential Sales, RESIDENTIAL_LEASING, Commercial Sales, Farm & Ranch, Vacant Land

Form Outline

The TXR 2302 form is organized into the following sections:

  1. Concerning the Independent Contractor Agreement between
    Identifies the broker and the associate whose independent contractor agreement this statement concerns. The paper suggests the statement be executed annually.
  2. Statement of the Associate — items (1) through (9)
    Nine printed attestations by the associate: license and affiliation status (the only blank — the broker / salesperson box in item 1), self-payment of license fees and dues, automobile and transportation expenses, entertainment and incidental expenses, no required schedule, no consultation on vacations or hours, commission-only compensation with no salary or sick pay, self-paid income and FICA taxes, and at-will termination with accrued fees preserved.
  3. Associate Signature
    The associate signs and dates the statement to attest to all nine items. This is a unilateral attestation — only the associate signs; there is no broker signature line.

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