Q1. What is an Agent of Record?
Agent of Record is a third-party entity providing hiring and administration solutions for independent contractors. The AOR acts as a bridge between the company and the contractor and ensures proper classification of workers so the company can avoid any misclassification risks.
The AOR is responsible for ensuring that the independent contractors are correctly classified based on changing laws. It acts on behalf of the company to engage with the contractors, onboard, and pay them in accordance with regulatory requirements.
Q2. How will Multiplier’s Agent of Record help my business?
Using Multiplier’s AOR solution, you can hire independent contractors across the world without worrying about misclassification risks. Opting for AOR will ensure you can onboard, engage, and pay contractors easily, while Multiplier ensures correct classification with all applicable regulatory considerations wherever they are assigned.
By using an AOR, you will no longer be restrained from hiring contractors in just your home country. You can hire across borders and grow your business.
Q3. What are the benefits of Multiplier’s AOR solution?
Multiplier’s AOR is significantly easier and more convenient to implement. Using Multiplier, you can:
Avoid misclassification risks so you can smoothly run your business operations.
Leverage contractor payments in the currency of their choice based on their tax residency and local labor laws.
Benefit from a localized payment network that reduces the payment settlement time significantly.
Avoid delays in setting up AOR and access a global workforce without spending time on HR and admin tasks.
Avail an intuitive platform where contractors can raise invoices easily & send them for your approval.
Rely on our exceptional support team that is available 24/5 to help you with all the necessary information.
Hire great talent compliantly without being restrained to hire in just your home country.
Q4. What is the process to onboard a contractor via Agent of Record on the platform?
An independent contractor can be onboarded on the platform using AOR in just a few steps:
Enter the contractor details on the platform.
Select ‘Agent of record’ (AOR) as the engagement option.
Once the details have been uploaded, an order form will be generated that must be sent for the signatory's signature.
Once the order form is signed, Multiplier will automatically send an independent contractor agreement to the contractor for signature.
Next, the contractor must sign up on the platform and submit their details.
Once the details are verified, the contractor will be activated on the platform.
Q5. Does Multiplier collect deposits for AOR contractors?
Yes. The company will be invoiced a one-time deposit equivalent to the contractor’s notice period duration.
For example, if the notice period is 2 months, you will be charged a one-time deposit equivalent to the contractor compensation of 2 months. This amount will be refunded once the contractor is offboarded.
Q6. Can the contractor be paid in any currency if hired through AOR?
The contractors hired via AOR can be paid in USD, EUR, and in the said contractor's home currency (currency of their country of residence).
Q7. Is an order form required for each contractor?
Yes, an order form is required for each contractor. The nature of the work that the contractor is doing and associated details will be a part of the order form.
Q8. Can you hire contractors with any job role as AOR on the Multiplier platform?
No, you cannot hire the contractor if the job role is a regulated industry or tradesman role (Apprentice, Trainee, Labourer, Driver, Medical Worker, Legal Worker, Construction Worker, Finance/Investment).
Q9. What are Multiplier responsibilities vs company responsibilities while using AOR?
Multiplier ensures correct classification, verification (background checks, KYC, AML), invoicing, and payments are run smoothly.
Multiplier does not ensure that the contractor you identified for the role is the right fit for the job. The screening process must be taken care of by the company.