{"data":{"id":"us-vt/26-v.s.a.-5509","jurisdiction":"us-vt","citation":"26 V.S.A. § 5509","heading":"Requirements of registrants","body":"(a) Insurance. A person registered under this chapter shall maintain minimum liability insurance coverage in the amount of $1,000,000.00 per occurrence and $2,000,000.00 aggregate, evidence of which may be required as a precondition to issuance or renewal of a registration.\n(b) Writing.\n(1) A person registered under this chapter shall execute a written contract prior to receiving a deposit or commencing residential construction work if the estimated value of the labor and materials exceeds $10,000.00.\n(2) A contract shall specify:\n(A) Price. One of the following provisions for the price of the contract:\n(i) a maximum price for all work and materials;\n(ii) a statement that billing and payment will be made on a time and materials basis, not to exceed a maximum price; or\n(iii) a statement that billing and payment will be made on a time and materials basis and that there is no maximum price.\n(B) Work dates. Estimated start and completion dates.\n(C) Scope of work. A description of the services to be performed and a description of the materials to be used.\n(D) Change order provision. A description of how and when amendments to the contract may be approved and documented, as agreed by the parties.\n(3) The parties shall document an amendment to the contract in a signed writing.\n(c) Down payment.\n(1) If a contract specifies a maximum price for all work and materials or a statement that billing and payment will be made on a time and materials basis, not to exceed a maximum price, the contract may require a down payment of up to one-half of the cost of labor to the consumer, or one-half of the price of materials, whichever is greater.\n(2) If a contract specifies that billing and payment will be made on a time and materials basis and that there is no maximum price, the contract may require a down payment as negotiated by the parties.","path":["Title 26: Professions and Occupations","Chapter 106: Residential Contractors","Subchapter 003: REGISTRATIONS"],"source_url":"https://legislature.vermont.gov/statutes/section/26/106/05509","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T17:17:08Z","sha256":"9035349a1111896399e71784478822eb65e40f095a214f9d7fb68a1e23849ed2","source_id":"us-vt","stale":false,"prev":"us-vt/26-v.s.a.-5508","next":"us-vt/26-v.s.a.-5510"},"notice":"GroundRules: Original legal text. Not legal advice."}