diff --git a/rivershared/sqlctemplate/sqlc_template.go b/rivershared/sqlctemplate/sqlc_template.go
index 36986b24..c8417377 100644
--- a/rivershared/sqlctemplate/sqlc_template.go
+++ b/rivershared/sqlctemplate/sqlc_template.go
@@ -110,10 +110,20 @@ func (r *Replacer) Run(ctx context.Context, sql string, args []any) (string, []a
 // RunSafely is the same as Run, but returns an error in case of missing or
 // extra templates.
 func (r *Replacer) RunSafely(ctx context.Context, sql string, args []any) (string, []any, error) {
-	// If nothing present in context, short circuit quickly.
-	container, containerOK := ctx.Value(contextKey{}).(*contextContainer)
-	if !containerOK {
+	var (
+		container, containerOK = ctx.Value(contextKey{}).(*contextContainer)
+		sqlContainsTemplate    = strings.Contains(sql, "/* TEMPLATE")
+	)
+	switch {
+	case !containerOK && !sqlContainsTemplate:
+		// Neither context container or template in SQL; short circuit fast because there's no work to do.
 		return sql, args, nil
+
+	case containerOK && !sqlContainsTemplate:
+		return "", nil, errors.New("sqlctemplate found context container but SQL contains no templates; bug?")
+
+	case !containerOK && sqlContainsTemplate:
+		return "", nil, errors.New("sqlctemplate found template(s) in SQL, but no context container; bug?")
 	}
 
 	r.cacheMu.RLock()
@@ -134,10 +144,6 @@ func (r *Replacer) RunSafely(ctx context.Context, sql string, args []any) (strin
 		return cachedSQL, args, nil
 	}
 
-	if !strings.Contains(sql, "/* TEMPLATE") {
-		return sql, args, nil
-	}
-
 	var (
 		templatesExpected = maputil.Keys(container.Templates)
 		templatesMissing  []string // not preallocated because we don't expect any missing parameters in the common case
diff --git a/rivershared/sqlctemplate/sqlc_template_test.go b/rivershared/sqlctemplate/sqlc_template_test.go
index f10fa30f..bbe47251 100644
--- a/rivershared/sqlctemplate/sqlc_template_test.go
+++ b/rivershared/sqlctemplate/sqlc_template_test.go
@@ -21,36 +21,43 @@ func TestReplacer(t *testing.T) {
 		return &Replacer{}, &testBundle{}
 	}
 
-	t.Run("NoContainer", func(t *testing.T) {
+	t.Run("NoContainerError", func(t *testing.T) {
 		t.Parallel()
 
 		replacer, _ := setup(t)
 
-		updatedSQL, args, err := replacer.RunSafely(ctx, `
+		_, _, err := replacer.RunSafely(ctx, `
 			SELECT /* TEMPLATE: schema */river_job;
 		`, nil)
-		require.NoError(t, err)
-		require.Nil(t, args)
-		require.Equal(t, `
-			SELECT /* TEMPLATE: schema */river_job;
-		`, updatedSQL)
+		require.EqualError(t, err, "sqlctemplate found template(s) in SQL, but no context container; bug?")
 	})
 
-	t.Run("NoTemplate", func(t *testing.T) {
+	t.Run("NoTemplateError", func(t *testing.T) {
 		t.Parallel()
 
 		replacer, _ := setup(t)
 
 		ctx := WithReplacements(ctx, map[string]Replacement{}, nil)
 
+		_, _, err := replacer.RunSafely(ctx, `
+			SELECT 1;
+		`, nil)
+		require.EqualError(t, err, "sqlctemplate found context container but SQL contains no templates; bug?")
+	})
+
+	t.Run("NoContainerOrTemplate", func(t *testing.T) {
+		t.Parallel()
+
+		replacer, _ := setup(t)
+
 		updatedSQL, args, err := replacer.RunSafely(ctx, `
 			SELECT 1;
 		`, nil)
 		require.NoError(t, err)
-		require.Nil(t, args)
 		require.Equal(t, `
 			SELECT 1;
 		`, updatedSQL)
+		require.Nil(t, args)
 	})
 
 	t.Run("BasicTemplate", func(t *testing.T) {