diff --git a/contracts/README.md b/contracts/README.md
index f87f196e5dc..f131f0234b0 100644
--- a/contracts/README.md
+++ b/contracts/README.md
@@ -15,8 +15,8 @@ $ npm install @chainlink/contracts --save
 @chainlink/contracts
 ├── src # Solidity contracts
 │   └── v0.8
-└── abi # ABI json output
-    └── v0.8
+│── abi # ABI json output
+│   └── v0.8
 ```
 
 ### Usage
@@ -27,19 +27,52 @@ The solidity smart contracts themselves can be imported via the `src` directory
 import {AutomationCompatibleInterface} from '@chainlink/contracts/src/v0.8/AutomationCompatibleInterface.sol';
 ```
 
-## Local Development
+## Foundry
+
+Chainlink supports Foundry testing for Solidity for its available products. Any new products or tests should only use Foundry
+in the future.
+
+### Installation
+
+Please see the [official docs](https://book.getfoundry.sh/getting-started/installation) for the latest installation guide
 
-Note: Contracts in `dev/` directories are under active development and are likely unaudited. Please refrain from using these in production applications.
+The foundry version used by the project may be different than your locally installed version, which 
+can result in different test results, so a series of alias commands with `GNUMakefile` is offered to help ensure the correct version is available. Please ensure your system supports makefiles before running them.
+
+Depending on your foundry-profile, you may need to install external dependencies from libraries such as Openzeppelin. 
+This can be done efficiently with `pnpm` as well
 
 ```bash
 # Clone Chainlink repository
 $ git clone https://github.com/smartcontractkit/chainlink.git
-# Continuing via pnpm
-$ cd contracts/
-$ pnpm
-$ pnpm test
+$ cd chainlink/contracts/
+# Download and install the correct foundry version.
+$ make foundry
+# Download external dependencies
+$ pnpm i
+# Compile and run all tests using the default profile.
+$ forge test
+```
+
+A complete guide on utilizing Foundry with this repository can be found in [FOUNDRY_GUIDE.md](./FOUNDRY_GUIDE.md)
+
+### Configuration
+
+Foundry config lives in `foundry.toml` in the root, the docs can be found [here](https://book.getfoundry.sh/config/).
+The remapping of libraries, both from Foundry and NPM packages, is done in `remapping.txt`.
+
+### Profiles
+
+Different Chainlink projects are organized by folder and unique [Foundry Profiles](https://book.getfoundry.sh/reference/config/overview?highlight=profiles#profiles).
+Setting a profile can be used to restrict the compiler to specific files, reducing compilation time significantly. We
+recommend configuring this by setting your `FOUNDRY_PROFILE` environment variable to the profile which best fits your need.
+
+```bash
+$ export FOUNDRY_PROFILE=ccip # Set the profile to only apply only to CCIP specific contracts.
 ```
 
+The complete list of profiles and their associated tests can be found in the `foundry.toml` file.
+
 ## Contributing
 
 Please adhere to the [Solidity Style Guide](https://github.com/smartcontractkit/chainlink/blob/develop/contracts/STYLE.md).
@@ -72,4 +105,4 @@ An exception to this is the ccip folder, which defaults to be licensed under the
 
 - `src/v0.8/ccip/applications/*` is licensed under the [MIT](https://choosealicense.com/licenses/mit/) license
 - `src/v0.8/ccip/interfaces/*` is licensed under the [MIT](https://choosealicense.com/licenses/mit/) license
-- `src/v0.8/ccip/libraries/{Client.sol, Internal.sol}` is licensed under the [MIT](https://choosealicense.com/licenses/mit/) license
\ No newline at end of file
+- `src/v0.8/ccip/libraries/{Client.sol, Internal.sol}` is licensed under the [MIT](https://choosealicense.com/licenses/mit/) license
diff --git a/contracts/foundry.md b/contracts/foundry.md
deleted file mode 100644
index 4795741e2dd..00000000000
--- a/contracts/foundry.md
+++ /dev/null
@@ -1,27 +0,0 @@
-## Foundry
-
-Chainlink supports Foundry testing for Solidity based on the Solidity version.
-
-- < 0.8.0 Hardhat tests only
-- 0.8.x Hardhat and Foundry tests
-- \> 0.9.0 Foundry tests only
-
-New projects should use Foundry but existing ones can keep using Hardhat if they want to; we will not be forcing any teams to rewrite their existing test suite.
-
-## Installation
-
-Please see the [official docs](https://book.getfoundry.sh/getting-started/installation) for the latest installation guide
-
-## CI
-
-The Foundry CI will build, run tests and check the gas usage of all test functions against the version controlled `.gas-snapshot` file.
-This snapshot should always be up-to-date and can be generated by running `make snapshot`, and alias for `forge snapshot --match-test _gas`.
-We only track gas for tests that have the `_gas` suffix as to not introduce too much noise in the snapshot file.
-This will create a snapshot file in the current working dir, please make sure that you are in the root `chainlink` directory.
-
-## Configuration
-
-Foundry config lives in `foundry.toml` in the root, the docs can be found [here](https://book.getfoundry.sh/config/).
-The remapping of libraries, both from Foundry and NPM packages, is done in `remapping.txt`.
-
-