FAQs - Contractor of Record (COR)

Frequently asked questions about Multiplier's COR solution

How will Multiplier’s Contractor of Record help my business?

Using Multiplier’s COR solution, you can hire independent contractors worldwide without worrying about misclassification risks. Opting for COR 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 a COR, you will no longer be restrained from hiring contractors in just your home country. You can hire across borders and grow your business.

What are the benefits of Multiplier’s COR solution?

Multiplier’s COR 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 COR 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, available 24/5 to help you with all the necessary information.

• Hire great talent compliantly without being restrained from hiring in just your home country.

What is the process for onboarding a Contractor of Record on the platform?

Learn how to onboard a Contractor of Record (COR) on Multiplier.

Does Multiplier collect deposits for COR contractors?

Yes. The company will be invoiced a one-time deposit equivalent to the duration of the contractor’s notice period.

For example, if the notice period is 2 months, you will be charged a one-time deposit equivalent to the contractor's compensation for 2 months. This amount will be refunded once the contractor is offboarded.

Can the contractor be paid in any currency if hired through COR?

The contractors hired via COR may be paid in USD, EUR, and the said contractor's home currency (currency of their country of residence). To know more about currency feasibility in the contractor's country of residence, contact us at [email protected].

Can you hire contractors with any job role as COR 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).

What are Multiplier responsibilities vs company responsibilities when using COR?

Multiplier ensures correct classification, verification (background checks, KYC, AML), invoicing, and payments run smoothly.

Multiplier does not ensure that the contractor you identified for the role is the right fit for the job. The company must take care of the screening process.

What is an Agent of Record?

Agent of Record(AOR) 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 misclassification risks.

The AOR is responsible for ensuring that the independent contractors are correctly classified based on evolving laws. It acts on behalf of the company to engage with the contractors, onboard, and pay them per regulatory requirements. Learn more about Multiplier's Agent of Record solution.