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| In today's
highly regulated environment, it is
imperative that companies examine the
alternatives available to help them
comply with the changing and sometimes
stringent requirements placed on them
regarding the use of Independent Contractors.
The effects of reclassification from
a Workers’ Compensation or Department
of Labor point of view can result in
severe consequences that most often
lead to significant financial harm to
the contracting company. |
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| SCI operates in the
legal capacity of a “Primary General
Contractor” in terms of managing
the contract issuance and 1099 payroll
administration, and driver servicing
between the driver and the Courier Company.
SCI contracts with each driver, and
provides ongoing administrative services
such as settlement check issuance, settlement
deductions, and vendor payee services
associated with the subcontractors.
Additionally, SCI administers, reviews,
and tracks the 1099 reporting responsibilities
for the settlement payments made to
the Independent Contractor. |
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| SCI assures
the client company that every driver
operates under a formal and legally
recognized operating agreement and is
responsible for processing each driver’s
settlement compensation check. |
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| SCI requires each
independent contractor to either provide
evidence of Workers’ Compensation
Insurance, or to participate under an
approved and endorsed Injury Protection
Program. SCI requires that the Program
must contain a valid coverage mechanism
that will respond with true Statutory
Workers’ Compensation protection
in the event an independent contractor
files a claim and reclassified as an
employee. If the Independent Contractors
does not provide such coverage, SCI
will provide them with access to a sponsored
program negotiated for SCI’s drivers.
The SCI program includes Occupational
Accident insurance, as well as its own
Statutory Workers’ Compensation
policy. |
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| SCI presently
has over 250 active Courier Company
Clients with over 9,500 Independent
Contractor Drivers under contract. In
2001, SCI was awarded the Vendor of
the Year Award by the New York State
Courier Association for the high quality
of services and support SCI has provided
to the Courier Industry. There have
been a few companies that have attempted
to provide similar services that SCI
affords its clients, but none have combined
all facets of data processing systems,
administrative support, and legal protection
delivered by SCI to the drivers as well
as to the Courier Company. We believe
we offer a “Total Risk Management
Solution”. In the event of any
claims activity, SCI also provides oversight
and tracking for the reporting, eligibility
verification, accident investigation,
and identification of any possible subrogation
resolution for all claims associated
with our Occupational Accident and Worker’s
Compensation program. |
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| SCI is owned by Laurus
Master Funds, a three Billion dollar
hedge fund located in New York City.
We have been in business since 1996
and have the most sophisticated software
and operations department in the industry. |
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