Define: Turnkey basis
In a contract, turnkey basis describes an arrangement where a single supplier takes complete responsibility for designing, building, testing, and delivering a finished project or system ready for immediate use. The customer need not manage individual components or subcontractors, simply
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
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Relevant Circumstances
- Start-up businesses requiring outsourced product creation.
- Large scale projects involving multiple aspects of supply and production.
- International product supply.