Does anyone know if clause 2.1(e) refer to the commencement letter from the bank? It reads "where the name of the lending body is stated in item 6, the owner givers the builder a notice from them lending body that construction of the works may commence".
The bank will not issue the commencement letter unless the builder obtains all approvals/permits. it also triggers 2.2 that the owner cannot satisfy all requirements because the failure of the builder receives approvals/permits by the anticipated start date.
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