Turnkey Contract Template. The customer thus is not affected by any risks inside the project, and the result of the project is covered by one agreement. Assumes total responsibility from design through completion of the project.
The basic concept is that in a turnkey contract the contractor shall provide the works ready for use at the agreed price and by a fixed date. This agreement is between an operator and a participant. This agreement, together with the schedules attached hereto and the collateral agreements, constitutes the entire agreement and complete understanding between contractor and owner with respect to the subject matter described herein and therein and supersedes all other understandings and agreements between the parties.