Define: Turnkey basis
Turnkey basis means a supplier's full responsibility for design, manufacturing, service, and delivery, ultimately handing over for operation
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Turnkey basis means a supplier's full responsibility for design, manufacturing, service, and delivery, ultimately handing over for operation.
Relevant Circumstances
- Start-up businesses requiring outsourced product creation.
- Large scale projects involving multiple aspects of supply and production.
- International product supply.