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2025 Vermont Statutes
Title 19 - Highways
Chapter 1 - State Highway Law; General Transportation Provisions
§ 11c. Deposit in escrow account of amounts retained from progress payments
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19 VT Stats § 11c
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§ 11c. Deposit in escrow account of amounts retained from progress payments
Upon satisfactory completion of the contract work and full settlement or payment of all damages, claims, or liabilities incurred in connection with the contract work, the retained percentage and any interest accrued, shall be paid to the contractor or consultant. If the escrow conditions are not fulfilled, then the Agency shall be paid the retained percentage and any interest accrued or such amount necessary to settle or pay the damages, claims, or liabilities. (Added 1993, No. 27, § 2.)
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