Independent Contractor Agreement
Banks Technologies, LLC Updated: July 2026
THIS INDEPENDENT CONTRACTOR AGREEMENT (this "Agreement") is entered into by and between BANKS TECHNOLOGIES, LLC ("Banks") and the individual identified in the accepting user's Platform account ("Contractor"). Banks and Contractor may each be referred to herein individually as a "Party" and collectively as the "Parties." This Agreement is effective as of the date on which Contractor accepts this Agreement by checking the acceptance box presented on the Platform (the "Effective Date"). The Platform automatically records Contractor's name and the date and time of acceptance, and such record constitutes Contractor's execution of this Agreement.
This Agreement is incorporated into and made part of the General Terms and Conditions, together with all other applicable policies, addenda, and documents governing use of the Banks platform (collectively, the "Platform Terms"), each of which Contractor has accepted as a condition of accessing or using the Platform. This Agreement governs the independent contractor relationship between Banks and Contractor, including Contractor's status as an independent contractor, compensation arrangements, and obligations arising from the performance of Services under this Agreement. The Platform Terms and applicable Appraiser Addendum govern Contractor's use of the Platform and platform-related obligations, including appraiser eligibility, verification requirements, professional obligations, and compliance requirements. In all other respects, the Platform Terms shall govern.
WHEREAS, Banks is a technology platform that facilitates connections between service providers and users seeking certain services; and
WHEREAS, Contractor is an independent professional who desires to receive opportunities for appraisal-related engagements through the Platform and to perform such services as an independent contractor, subject to the terms of this Agreement and the Platform Terms;
NOW, THEREFORE, in consideration of the foregoing, the mutual covenants, conditions, and undertakings contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Appointment and Services
Banks hereby engages Contractor as an independent contractor to perform the services described in this Agreement, any applicable statement of work, engagement letter, assignment terms, or applicable requirements (collectively, the "Services"), and Contractor accepts such engagement subject to the terms and conditions herein.
2. Term
This Agreement shall commence on the Effective Date and shall continue until terminated by either Party in accordance with this Agreement.
Suspension and Termination. Banks may suspend Contractor's access to Banks or terminate this Agreement in accordance with this Agreement, the Platform Terms, or any applicable service-specific addendum.
3. Independent Contractor Relationship
Independent Contractor Status. Contractor acknowledges and agrees that Contractor is an independent contractor and not an employee, agent, partner, joint venturer, fiduciary, franchisee, representative, or legal representative of Banks. Nothing contained in this Agreement, the Platform Terms, Contractor's participation on Banks, or Contractor's performance of services shall be construed to create an employment relationship, agency relationship, partnership, joint venture, or other similar relationship between the parties.
Control Over Services. Contractor shall have sole direction and control over the manner, means, methods, sequence, and details of performing services. Except for the operation of Banks, administrative requirements, assignment information provided by Banks users, and requirements necessary to facilitate Banks, Banks shall not direct, supervise, or control the manner in which Contractor performs services.
No Authority to Bind Banks. Contractor shall have no authority to bind Banks or enter into any agreement, representation, warranty, or obligation on behalf of Banks. Contractor shall not represent to any third party that Contractor has authority to act on behalf of Banks.
Independent Business. Contractor acknowledges that Contractor operates an independent business and is solely responsible for determining the manner in which Contractor performs services, including Contractor's schedule, equipment, personnel, workspace, methods, and resources.
4. Taxes and Benefits
Taxes. Contractor shall provide Banks with any tax forms, certifications, taxpayer identification information, or other documentation reasonably requested by Banks. Banks shall not withhold taxes except as required by law and may report payments made to Contractor as required by applicable law, including issuance of IRS Forms 1099.
No Employee Benefits. Contractor acknowledges and agrees that Contractor is not eligible for and shall not be entitled to any benefits provided by Banks to its employees, including, without limitation, health insurance, retirement benefits, paid time off, vacation benefits, sick leave, disability benefits, unemployment benefits, workers' compensation benefits, overtime compensation, or any other employee benefit or protection.
5. Contractor Responsibilities
Contractor shall be solely responsible for the performance of the Services and shall perform all Services in a professional and workmanlike manner consistent with generally accepted industry standards and all applicable laws, rules, regulations, and professional requirements.
Contractor shall be solely responsible for determining the manner, means, methods, sequence, and procedures by which the Services are performed, subject only to the applicable requirements of this Agreement, any applicable statement of work, assignment requirements, Banks procedures, applicable law, and the results to be achieved.
Contractor shall maintain all licenses, certifications, permits, registrations, qualifications, and approvals necessary to perform the Services. Contractor represents and warrants that Contractor possesses the knowledge, skill, experience, and qualifications necessary to competently perform the Services.
Contractor shall provide, at Contractor's sole cost and expense, all equipment, tools, materials, software, supplies, transportation, facilities, personnel, and other resources necessary to perform the Services, unless otherwise expressly agreed in writing by Banks.
Contractor shall be solely responsible for maintaining accurate and complete records relating to the Services, including any documentation required by applicable law, professional standards, or the nature of the Services performed.
Contractor shall maintain accurate and current information provided to Banks, including Contractor's legal name, business information, contact information, tax information, payment information, licensing information, certifications, insurance information, and any other information reasonably necessary for Contractor's relationship with Banks.
Contractor shall promptly notify Banks of any circumstance that may affect Contractor's ability to perform the Services, including any change in licensing, certification, authorization, insurance coverage, professional status, or other qualification necessary to perform the Services.
Contractor shall comply with all applicable federal, state, and local laws, rules, regulations, ordinances, orders, and governmental requirements applicable to Contractor's performance of the Services. Contractor shall also comply with all applicable industry standards, professional standards, licensing requirements, ethical obligations, and nationally recognized standards or requirements applicable to the Services or Contractor's profession, business, or activities.
Contractor shall cooperate with any reasonable inquiry, investigation, audit, complaint, dispute, or regulatory request relating to Contractor's performance of the Services, qualifications, compliance obligations, or use of Banks.
Contractor shall be solely responsible for all communications, scheduling, coordination, and interactions with Clients necessary to perform the Services. Such communications may occur through the Platform or by other mutually agreed means. Banks is not responsible for coordinating or participating in such communications or interactions.
Contractor shall not represent that Contractor is an employee, agent, partner, joint venturer, or representative of Banks or that Contractor has authority to bind Banks.
6. Compensation and Payment
Compensation. Contractor shall be compensated for services performed through Banks in accordance with applicable assignment terms, Banks disclosures, and the Platform Terms.
Banks Fees and Deductions. Contractor acknowledges and agrees that Banks may deduct applicable fees, processing fees, refunds, chargebacks, adjustments, or other amounts permitted under the Platform Terms or applicable assignment terms before remitting payment to Contractor.
Payment Processing. Payments may be processed through third-party payment processors or other payment services selected by Banks. Contractor authorizes Banks and applicable payment processors to process payments and related transactions in accordance with this Agreement and the Platform Terms.
No Guaranteed Compensation. Contractor acknowledges that access to Banks does not guarantee any minimum compensation, minimum number of assignments, or minimum payment amount.
Contractor acknowledges that payment obligations may be subject to applicable assignment requirements, dispute resolution procedures, payment processor requirements, refunds, chargebacks, offsets, or adjustments permitted under this Agreement, the Platform Terms, or applicable assignment terms.
7. Insurance
Contractor shall maintain any insurance required under the Terms, applicable service-specific addenda, and this Agreement. For appraisal services, Contractor shall comply with the insurance requirements set forth in the applicable Appraiser Addendum.
8. Confidentiality
Confidential Information. Contractor may receive or access confidential, proprietary, or non-public information belonging to Banks, Users, or third parties in connection with Contractor's participation on Banks. Contractor shall maintain the confidentiality of such information and shall use such information solely for purposes of performing services through Banks.
Confidential Information includes, without limitation, customer information, pricing information, Banks functionality, software, technology, business processes, business relationships, marketing information, financial information, and any other information that reasonably should be understood to be confidential.
Restrictions. Contractor shall not disclose, misuse, reproduce, or use confidential information for any purpose unrelated to Contractor's obligations under this Agreement, the Platform Terms, or applicable service-specific requirements.
9. Indemnification
Contractor shall defend, indemnify, and hold harmless Banks, its affiliates, and their respective officers, directors, employees, agents, contractors, representatives, successors, and assigns from and against any and all claims, demands, actions, proceedings, damages, liabilities, losses, judgments, settlements, costs, and expenses, including reasonable attorneys' fees and costs of investigation and defense, arising out of or relating to Contractor's breach of this Agreement; Contractor's independent contractor relationship with Banks, including any tax obligations, employment-related claims, benefits claims, or obligations relating to Contractor's personnel; Contractor's negligent acts, errors, omissions, willful misconduct, or violation of law; Contractor's failure to maintain required licenses, certifications, qualifications, or insurance; or any claim arising from Contractor's acts or omissions in performing the Services.
10. Limitation of Liability
The limitation of liability provisions contained in the Platform Terms are incorporated herein and shall apply to Contractor's participation on Banks and performance of services.
11. Miscellaneous
Entire Agreement. This Agreement, together with Banks' Privacy Policy, General Terms and Conditions, and any addenda or agreements incorporated by reference, including the Appraiser Addendum and the Referral Partner Addendum, constitute the entire agreement between you and BANKS TECHNOLOGIES, LLC regarding the Services and supersede all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral.
Amendments. No amendment, modification, waiver, or termination of any provision of this Agreement shall be effective unless made in writing or through an electronic acceptance process authorized by Banks.
Assignment. Contractor may not assign or transfer this Agreement or any rights or obligations hereunder.
Severability. If any provision of this Agreement is determined to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
Waiver. No waiver of any breach shall constitute a waiver of any subsequent breach.
Governing Law and Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois. Venue for any action arising out of or relating to this Agreement shall be in the state or federal courts located in Illinois.
Order of Precedence. In the event of any conflict between this Agreement, the Platform Terms, and any applicable Addendum, this Agreement shall control solely with respect to the independent contractor relationship, Contractor classification, compensation terms expressly set forth herein, and other matters expressly addressed herein. The Platform Terms and Appraiser Addendum shall control with respect to Platform access, Platform use, appraiser requirements, verification, compliance obligations, and other platform-related matters.
Survival. Any provisions which by their nature should survive termination shall survive termination, including confidentiality, indemnification, limitation of liability, payment obligations, and obligations relating to Services performed prior to termination.
12. Electronic Acceptance and Execution
By checking the acceptance box presented on the Platform, Contractor acknowledges that Contractor has read, understood, and agrees to be bound by this Agreement. Checking the acceptance box constitutes Contractor's electronic signature and execution of this Agreement and has the same force and effect as an original handwritten signature. At the time of acceptance, the Platform will automatically record Contractor's name as it appears in Contractor's account and the date and time of acceptance, and Banks will maintain that record as evidence of execution. Contractor agrees not to contest the validity or enforceability of this Agreement solely because it was accepted, delivered, or retained electronically.
BANKS TECHNOLOGIES, LLC — 125 South Wacker Drive, Suite 300, Chicago, IL 60606