A broker is an agent who bargains and/or conducts negotiations for and on behalf of his or her principal as an intermediary between the principal and third persons in the acquisition of contractual rights. Such a broker normally receives a commission or brokerage fee for his or her services. While a broker's primary contractual duty is to procure prospects and negotiate with them on behalf of his or her principal, it is not uncommon for the broker to assume an advisory relationship to clients who are not knowledgeable in the types of contracts involved in the negotiations.
Puerto Rico Exclusive Agreement Between Employer and Broker to Secure Group Insurance
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20 What categories of workers are entitled to overtime pay and how is it calculated? Regulation No. 13 of the Puerto Rico Minimum Wage Board defines the administrative, executive and professional exemptions to overtime requirements, mirroring the current regulations under the US Fair Labor Standards Act (FLSA).
Act 75 prohibits termination or non-renewal of a dealer's contract without ?just cause,? regardless of any contract provision permitting termination.
For employees who at termination of employment have between 5 and 15 years of service with the employer, the Act 80 amount equals 3 months' salary plus 2 weeks' salary per each full year of service.
Act 80 (the Unjust Dismissal Act) regulates employment termination of employees hired for an indefinite term. Puerto Rico is not an 'employment at will' jurisdiction.
WARN applies in Puerto Rico, including its payment in lieu of notice provisions, which provide that an employer that violates the WARN notice requirement is liable to each affected employee for an amount equal to back pay and benefits for the period of violation up to 60 days.
? PUBLIC LAW 87 AUTHORIZATION TO RECRUIT AND TRANSPORT ? It is unlawful for any person, any organization, or the agent of a person or organization, to recruit or transport laborers for employment outside Puerto Rico without authorization by the labor secretary.
The statutory severance formula for employees hired on or after January 26, 2017, regardless of years of service, changes to three months of salary plus two weeks for each completed year of service. The statutory severance is capped at nine months.