Terms Used In Vermont Statutes Title 9 Sec. 4002

• Billing period: means the period agreed to by the parties or, in the absence of an agreement, the calendar month within which work is performed. See
• Construction contract: means any agreement, whether written or oral, to perform work on any real property located within the State of Vermont. See
• Contract: A legal written agreement that becomes binding when signed.
• Contractor: means a person or entity that contracts with an owner to perform work, or provide materials or machinery necessary to perform work on real property. See
• Delivery: means receipt by addressee, including first-class, registered, or certified mail, hand delivered or transmitted by facsimile machine. See
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Owner: includes successors in interest of the owner and agents of the owner acting within their authority. See
• Work: means to build, alter, repair, or demolish any improvement on, connected with, or on or beneath the surface of any real property, or to excavate, clear, grade, fill, or landscape any real property or to construct driveways, private roadways, highways and bridges, drilled wells, septic, sewage systems, utilities, including trees and shrubbery, or to furnish materials, for any of such purposes, or to perform any labor upon real property. See