Agent of Record Services
ICON provides Agent of Record (AOR) Services, also known as Agency of Record Services. The terms are used interchangeably to describe worker engagement of independent contractors, they both offer the same: providing compliant workforce administration for independent contractors simutaneously assuming responsibility for ensuring your contractors are paid in compliance with all applicable regulatory and tax considerations wherever contractor is assigned.
The following is a good example of a typical worker engagement process involving an AOR:
1. Customer identifies an independent contractor to provide services.
2. Customer refers the contractor to a supplier.
3. Supplier enters into a master services agreement with the contractor, along with a statement of work (or similar document). The statement of work defines the scope of the services the contractor is required to perform for the customer, but the supplier is the hiring entity.
4. For the duration of time the independent contractor provides services under the statement of work, the supplier provides AOR Services.
ICON's AOR services enable companies to contract, pay, and manage their sub-vendors under one central contract. The result is an enterprise-wide process with consolidated billing and minimal administration, delivering significant cost savings and process efficiencies. ICON's AOR Services include:
- Administrative, e.g., negotiating the master services agreement and statement of work and all other contracts that govern the relationship between the supplier and the independent contractor, such as, potentially, an arbitration agreement or SOW scope change;
- Compliance, e.g., 1099 and W-9 compliance, background checks, tenure and termination, and commercial insurance oversight, but not independent contractor compliance services*;
- Treasury function, including consolidated billing for large programs, e.g., customer pays the supplier, and supplier pays the contractor;
- Re-Deployment, i.e., the contractor completes a statement of work and then is re-deployed to a different project; and
- General Oversight / Miscellaneous, e.g., if an issue arises between the customer and the contractor, the supplier intervenes.
* Independent contractor compliance services are usually combined with Agent of Record services. Click here for an overview of ICONpliance, ICON’s compliance solution.
ICON IS YOUR PARTNER FOR ENTERPRISE-WIDE AGENT OF RECORD (AOR) PROGRAMS
For large-scale enterprise programs, the administrative paperwork for back-office operations can be daunting. As your Agency of Record, ICON administers all the back-office functions, taking away the requirement of setting up, reviewing, and paying a new vendor. Our clients maintain a single vendor relationship with ICON. We provide analytics and reporting, including monthly reports, consolidated billing, and historical information.
If this sounds like a service that you would like to explore in more detail, click here to reach out to an ICON representative.