Turnkey construction contract(redirected from Turn-Key Construction Contract)
Turnkey construction contract
A type of construction contract under which the construction firm is obligated to complete a project according to prespecified criteria for a price that is fixed at the time the contract is signed.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Turnkey Construction Contract
A construction contract in which the price is fixed at the time the contract is signed. As a result, the construction company is held responsible for exceeding the budget. Turnkey construction contracts reduce the risk to the buyer of the construction services and provide an incentive for the company to stay within budget.
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