Meaning & use

turnkey contracts

noun·Advanced

Last updated

UK/ˌtɜːnˈkiː ˈkɒntrækts/
US/ˈtɝːnˌkiː ˈkɑːntrækts/

Meaning

  1. nounpluralbusinesslegal

    A contract in which one company agrees to complete a whole project, including design and construction, so the client can start using it immediately.

    Grammar: Usually used in the plural; the singular 'turnkey contract' refers to one such agreement.

    Patterns

    • sign a turnkey contract
    • award a turnkey contract
    • under a turnkey contract

    The government signed a turnkey contract with the firm to build and equip the new hospital.

    Under a turnkey contract, the contractor is responsible for everything from design to final testing.

    Turnkey contracts are common in large infrastructure projects where the client wants minimal involvement.

Word forms

singularturnkey contract

Common combinations

sign a turnkey contract
The city signed a turnkey contract for the new sports stadium.
award a turnkey contract
The oil company awarded a turnkey contract to a major engineering firm.
under a turnkey contract
Under a turnkey contract, the builder must deliver a fully operational facility.
turnkey project
The turnkey project was completed on time and within budget.

Synonyms and how they differ

design-build contract
Similar but often emphasizes the combination of design and construction, while 'turnkey' stresses that the client can start using the finished product immediately.
EPC contract
Stands for Engineering, Procurement, and Construction; it is a type of turnkey contract common in large industrial projects.

Word family

turnkey adjective
Describing a project or system that is complete and ready to use.

Commonly confused: turnkey contracts or turn-key?

turnkey contracts vs turn-key

Sometimes spelled with a hyphen, but 'turnkey' as one word is standard in business contexts.

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