New Mexico independent contractor agreements are used to formalize an arrangement between an independent contractor and a client. The document will state the services that the contractor is to perform and the amount of money that they will be paid once they have fulfilled the terms of the contract. Furthermore, the form lists the legal terms by which the contractor must abide in order to maintain their status as an independent contractor. The agreement provides a written record for financial and legal purposes, and ensures that both parties will uphold their agreed commitments.
Laws – § 51-1-42(5)