diff --git a/contracts/README.md b/contracts/README.md
index 48968f6dab..8893b9617a 100644
--- a/contracts/README.md
+++ b/contracts/README.md
@@ -1,25 +1,125 @@
 # Chainlink Smart Contracts
 
-> [!IMPORTANT] 
-> Since v1.4.0 of the Chainlink contracts, the contracts have been moved to their own repository:
-> [chainlink-evm](https://github.com/smartcontractkit/chainlink-evm). 
+> [!IMPORTANT]
+> Since `v1.5.0` of the Chainlink contracts package, some dependencies are no longer vendored and require the use of remappings.
+> See the setup instructions for use in Solidity projects.
+>
+> Since `v1.4.0` of the Chainlink contracts, the contracts have been moved to their own repository:
+> [chainlink-evm](https://github.com/smartcontractkit/chainlink-evm).
 > Prior to that, the contracts were part of the [main Chainlink repository](https://github.com/smartcontractkit/chainlink)
 
-## Installation
+## Table of Contents
+
+- [NPM Quick Install](#npm-quick-install)
+- [Setup & Installation](#setup--installation)
+    - [Foundry & Forge](#foundry)
+    - [Hardhat 2](#hardhat-2)
+    - [Hardhat 3](#hardhat-3)
+    - [Remix](#remix)
+- [Package Directory Structure](#package-directory-structure)
+    - [Usage](#usage)
+- [Local Development](#local-development)
+- [Contributing](#contributing)
+    - [Changesets](#changesets)
+    
+## NPM Quick Install
+
+> [!NOTE]  
+> For use in Solidity project(s), see the setup instructions below.
 
-#### Foundry (git)
+```sh
+# pnpm
+$ pnpm add @chainlink/contracts
+```
+
+```sh
+# npm
+$ npm install @chainlink/contracts --save
+```
+
+## Setup & Installation
+
+This package relies on Solidity [remappings](https://docs.soliditylang.org/en/latest/path-resolution.html#import-remapping) to resolve import paths within your Solidity project(s). Each tool may handle [remappings](https://docs.soliditylang.org/en/latest/path-resolution.html#import-remapping) in a different manner. 
+
+In the sections below, you will find detailed instructions on this process for supported tools.
 
-> [!WARNING]
-> When installing via git, the ref defaults to master when no tag is given.
 
+<details id="foundry">
+<summary>Foundry & Forge</summary>
+
+### Step 1: Install the package
+
+For use in your Foundry project, it is recommended to utilize `npm` or `pnpm` as your package manager for the use of this package instead of `forge install`. 
 
 ```sh
-$ forge install smartcontractkit/chainlink-evm@<version_tag>
+# pnpm
+$ pnpm add @chainlink/contracts
 ```
 
-Add `@chainlink/contracts/=lib/smartcontractkit/chainlink-evm/contracts/` in remappings.txt.
+```sh
+# npm
+$ npm install @chainlink/contracts --save
+```
+
+If you wish to utilize `forge install`, please see the [Foundry starter kit](https://github.com/smartcontractkit/foundry-starter-kit) for detailed information.
+
+### Step 2: Set up remappings
+
+Set up your project's remappings. See the [Foundry documentation](https://getfoundry.sh/guides/project-setup/dependencies#remapping-dependencies) for more information.
+
+[Foundry](https://getfoundry.sh/guides/project-setup/project-layout#project-layout) consumes a `remappings.txt` file from the project root. Create or update your project's `remappings.txt` with the following, to ensure that it loads the correct version of the dependencies you just installed into your `node_modules`:
+
+```
+@chainlink/=node_modules/@chainlink
+@openzeppelin/contracts@4.7.3=node_modules/@openzeppelin/contracts-4.7.3
+@openzeppelin/contracts@4.8.3=node_modules/@openzeppelin/contracts-4.8.3
+@openzeppelin/contracts@4.9.6=node_modules/@openzeppelin/contracts-4.9.6
+@openzeppelin/contracts@5.0.2=node_modules/@openzeppelin/contracts-5.0.2
+@openzeppelin/contracts@5.1.0=node_modules/@openzeppelin/contracts-5.1.0
+@openzeppelin/contracts-upgradeable/=node_modules/@openzeppelin/contracts-upgradeable/
+@arbitrum/=node_modules/@arbitrum/
+@eth-optimism/=node_modules/@eth-optimism/
+@scroll-tech/=node_modules/@scroll-tech/
+@zksync/=node_modules/@zksync/
+```
+
+Run `forge compile` to test that everything compiles correctly.
+
+#### Troubleshooting unresolved imports
+If your compilation reports unresolved imports from dependencies, add the corresponding additional remappings to `remappings.txt` (the format is `<prefix>=<resolved-path>/`).
+
+See the [Foundry starter kit](https://github.com/smartcontractkit/foundry-starter-kit) for working examples.
+
+</details>
+
+<details id="hardhat-2">
+<summary>Hardhat 2</summary>
+
+### Step 1: Install the package
+
+```sh
+# pnpm
+$ pnpm add @chainlink/contracts
+```
+
+```sh
+# npm
+$ npm install @chainlink/contracts --save
+```
+
+### Step 2: Set up remappings
+
+Hardhat 2 does not handle remappings natively as seen in Foundry/Hardhat 3. To remap import paths, you may use a preprocessor that handles this at compile time. Refer to the remapping section of the [Hardhat 2 starter kit](https://github.com/smartcontractkit/hardhat-starter-kit/?tab=readme-ov-file#remapping) for more information.
+
+See the [Hardhat 2 starter kit](https://github.com/smartcontractkit/hardhat-starter-kit/) for working examples.
+
+</details>
+
+<details id="hardhat-3">
+<summary>Hardhat 3</summary>
+
+### Step 1: Install the package
 
-#### NPM
 ```sh
 # pnpm
 $ pnpm add @chainlink/contracts
@@ -30,40 +130,56 @@ $ pnpm add @chainlink/contracts
 $ npm install @chainlink/contracts --save
 ```
 
-Add `@chainlink/contracts/=node_modules/@chainlink/contracts/` in remappings.txt.
+Hardhat 3 supports `remappings.txt` files in your project, as well as in Git submodules and npm dependencies. Each `remappings.txt` file applies to the directory where it's located and all its subdirectories, similar to how `.gitignore` works. 
+
+Similar to Foundry, Hardhat 3 will utilize the `remappings.txt` file located within the root directory of this Chainlink contracts package.
+
+See the [Hardhat 3 starter kit](https://github.com/smartcontractkit/hardhat-starter-kit/tree/hardhat-3) for working examples.
+
+</details>
+
+
+<details id="remix">
+<summary>Remix</summary>
 
+Remix works out of the box and requires no additional setup or installation. The imported dependencies will be automatically installed.
 
+</details>
 
-### Directory Structure
+
+## Package Directory Structure
+
+> [!IMPORTANT]
+> Since v1.5.0 of the Chainlink contracts, ABI files have been reorganized into subdirectories.
+> Additionally, ABI files now follow a slightly updated naming scheme.
 
 ```sh
 @chainlink/contracts
 ├── src # Solidity contracts
 │   └── v0.8
-└── abi # ABI json output
+└── abi # ABI JSON output
     └── v0.8
 ```
 
-### Usage
+#### Usage
 
-The solidity smart contracts themselves can be imported via the `src` directory of `@chainlink/contracts`:
+The Solidity files themselves can be imported via the `src` directory of @chainlink/contracts:
 
 ```solidity
 import {IVerifier} from '@chainlink/contracts/src/v0.8/llo-feeds/v0.5.0/interfaces/IVerifier.sol';
 ```
 
-### Remapping
 
-This repository uses [Solidity remappings](https://docs.soliditylang.org/en/v0.8.20/using-the-compiler.html#compiler-remapping) to resolve imports.
-The remapping is defined in the `remappings.txt` file.
+The ABI files themselves can be imported via the `abi` directory of `@chainlink/contracts`:
+
+```
+@chainlink/contracts/abi/v0.8/VRF/VRFCoordinatorV2_5.abi.json
+```
 
 
 ## Local Development
 
-Note:
-Contracts in `dev/` directories or with a typeAndVersion ending in `-dev` are under active development
-and are likely unaudited.
-Please refrain from using these in production applications.
+**Note:** Contracts in `dev/` directories or with a typeAndVersion ending in `-dev` are under active development and are likely unaudited. Please refrain from using these in production applications.
 
 ```bash
 # Clone Chainlink repository
@@ -72,8 +188,7 @@ $ cd contracts/
 $ pnpm
 ```
 
-Each Chainlink project has its own directory under `src/` which can be targeted using Foundry profiles.
-To test a specific project, run:
+Each Chainlink project has its own directory under `src/` which can be targeted using Foundry profiles. To test a specific project, run:
 
 ```bash
 # Replace <project> with the product you want to test
@@ -81,7 +196,7 @@ export FOUNDRY_PROFILE=<project>
 forge test
 ```
 
-To test the llo-feeds (data steams) project:
+To test the llo-feeds (data streams) project:
 
 ```bash
 export FOUNDRY_PROFILE=llo-feeds
@@ -102,15 +217,15 @@ Thank you!
 
 We use [changesets](https://github.com/changesets/changesets) to manage versioning the contracts.
 
-Every PR that modifies any configuration or code, should most likely accompanied by a changeset file.
+Every PR that modifies any configuration or code should most likely be accompanied by a changeset file.
 
 To install `changesets`:
-  1. Install `pnpm` if it is not already installed - [docs](https://pnpm.io/installation).
-  2. Run `pnpm install`.
+
+1. Install `pnpm` if it is not already installed - [docs](https://pnpm.io/installation).
+2. Run `pnpm install`.
 
 Either after or before you create a commit, run the `pnpm changeset` command in the `contracts` directory to create an accompanying changeset entry which will reflect on the CHANGELOG for the next release.
 
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
-