turnkey

turnkey
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Burton's Legal Thesaurus. . 2006


turnkey
USA
As used in project financing, a construction contract requiring a contractor to complete the design, engineering, procurement, construction, and start-up of a project or facility by a certain date, for a fixed price and at certain performance specifications.
or more information on these types of contracts and project finance generally, see Practice Note, Understanding Project Finance Construction Contracts (www.practicallaw.com/1-422-1870) and Project Finance Construction Contract Structures (www.practicallaw.com/6-422-4338).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • turnkey — turn‧key [ˈtɜːnkiː ǁ ˈtɜːrn ] adjective [only before a noun] turnkey project S or systems are ones that have been produced in such a way that they are ready to be used immediately by a customer: • The unit provides turnkey software systems to… …   Financial and business terms

  • Turnkey — Turn key , n.; pl. {Turnkeys}. [1913 Webster] 1. A person who has charge of the keys of a prison, for opening and fastening the doors; a warder. [1913 Webster] 2. (Dentistry) An instrument with a hinged claw, used for extracting teeth with a… …   The Collaborative International Dictionary of English

  • turnkey — (adj.) 1650s, jailer, from TURN (Cf. turn) + KEY (Cf. key). In reference to a job that only has to be done once, it is recorded from 1934. The notion is of locking up afterward …   Etymology dictionary

  • turnkey — ► NOUN (pl. turnkeys) archaic ▪ a jailer …   English terms dictionary

  • turnkey — turnkey1 [tʉrn′kē΄] n. pl. turnkeys a person in charge of the keys of a prison; warder; jailer ☆ turnkey2 [tʉrn′kē΄ ] adj. [because the new owner of a housing project unit so constructed need only turn the door key to take occupancy] designating …   English World dictionary

  • Turnkey — A turnkey or a turnkey project is a project in which separate entities are responsible for setting up a plant or equipment (e.g. trains/infrastructure) and for putting it into operation. It can include contractual actions at least through the… …   Wikipedia

  • turnkey — I. noun (plural turnkeys) Date: 1647 one who has charge of a prison s keys II. adjective Date: 1927 built, supplied, or installed complete and ready to operate < a turnkey nuclear plant > < a turnkey computer system >; also of or relating to a tu …   New Collegiate Dictionary

  • turnkey — 1. adjective ready to use without further assembly or test; supplied in a state that is ready to turn on and operate (typically refers to an assembly that is outsourced for manufacture) They wanted a turnkey solution for the entire system, but we …   Wiktionary

  • turnkey — /terrn kee /, n., pl. turnkeys., adj. n. 1. a person who has charge of the keys of a prison; jailer. adj. 2. Also, turn key. of, pertaining to, or resulting from an arrangement under which a private contractor designs and constructs a project,… …   Universalium

  • turnkey — turn|key1 [ tɜrn,ki ] adjective complete and ready to be used immediately: a turnkey computer system turnkey turn|key 2 [ tɜrn,ki ] noun count someone in the past who was in charge of the keys in a prison …   Usage of the words and phrases in modern English

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