Turnkeys Contracts
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Turnkey Contract:-
A Turnkey Contract is one under which the contractor is responsible for both the design and construction of a facility.
The basic concept is that in a Turnkey Contract the contractor shall provide the works ready for use at the agreed price and by a fixed date.
Turnkey contracting means a business arrangement in which the customer receives the project in its absolute complete state.
If you break it up, the term turnkey means "turning the key" over once
the project is fully operational,
which effectively defines the scope of such a project.
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