In Colorado, there are certain requirements for a home improvement contract as defined by state law. According to the Colorado Revised Statutes Section 6-22-101 et seq., any contract exceeding $200 requires a written agreement between the homeowner and contractor. The contract should include important information such as contractor's name, address, phone number, detailed scope of work with materials specified whenever possible, approximate date of commencement and substantial completion of work, payment terms including total cost or agreed-upon hourly rates plus an estimate of material expenses if applicable. Additionally, the contract must provide homeowners with an explicit notice explaining their rights to rescind within three business days after signing the agreement.