Vermont Statutes Title 9 Sec. 4006
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Terms Used In Vermont Statutes Title 9 Sec. 4006
- 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
- Owner: includes successors in interest of the owner and agents of the owner acting within their authority. See
- Subcontractor: means any person or entity that has contracted to perform work, or provide materials or machinery necessary to perform work for a contractor or another subcontractor in connection with a construction contract. See
§ 4006. Prepayment; advance payment
This chapter shall in no way be construed to prohibit an owner, contractor, or subcontractor from making advance payments, progress payments, or from prepaying if agreements or other circumstances make such payments appropriate. All such payments shall be made promptly and shall be subject to the interest, penalties, and other provisions hereof when payment is later. (Added 1991, No. 74, § 1, eff. Jan. 1, 1992.)