Provisions Homework Assignment Value: 50 Points FORMAT:A.What does the provision state? Go through the key points of the provision. Do NOT just read the provision. B.What doesthe provision mean?How could itimpact your project? Thinkabout the provision in the totality of the construction contract. C.Why is it important?Think about this from the Contractor and the Owner's perspective. Include in your memorandum and power point an explanation as to what you might change from the Owner's and Contractor's perspective.

D. Summary for the provision simplifying the wording so it can be better understood.You are trying to dummy down the provisions so that any normal person reading it can understand it.

15.1.3 Notice of Claims

15.1.3.1 Claims by either the Owner or Contractor, where the condition giving rise to the Claim is first discovered prior to expiration of the period for correction of the Work set forth in Section12.2.2, shall be initiated by notice to the other party and shall be initiated within 21 days after occurrence of the event giving rise to such Claim or within 21 days after the claimant first recognizes the condition giving rise to the Claim, whichever is later.