A Turnkey Contract is an agreement in which a contractor is given full responsibility to plan, design and build for all project services and work that is ready for use when delivered to the other contracting party. The Turnkey Contract is typically a construction industry under which a contractor builds a fully equipped and operational facilities and hand over the project in the operational state. (Refer to the Lump Sum Turnkey (LSTK))
Related Definitions in the Project: The Project Contract; Project Management
