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Compare the attached Owner Contract Draft v3 against the Approved Template 2024. Prioritize differences that change exposure, cash flow, or project administration.
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Comparison of 2 contractsDraft v3 · 2024 Template · 146 aligned clausesDone
Analysis
Material differences for legal and commercial review
The draft transfers three risks that the template limited: indemnity not tied to negligence, payment conditioned on owner approval, and retention through total closeout. Each needs a redline or commercial impact before signature.
| Clause | Source | Change | Owner | Action |
|---|---|---|---|---|
| Indemnity is no longer limited to negligent acts and adds consequential damages | Draft 12.4 vs baseline 11.2 1 | Potential exposure is not capped at contract value | Legal | Restore causation and cap |
| Payment changes from 30 days after invoice to 45 days after owner approval | Draft 7.2 vs baseline 6.1 2 | Uncertain cash flow; external approval has no deadline | Commercial | Remove condition or set deadline |
| Retention increases from 5% to 10% and releases only at total closeout | Draft 8.1 vs baseline 7.4 3 | Doubles retained capital and extends recovery | Finance | Price financing / redline |
Message…
Owner Contract Draft v3.pdf