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In turnkey contracts, most of the time the employer provides the primary design. The contractor must follow the primary design provided by the employer. A turnkey computer system is a complete computer including hardware, operating system and application(s) designed and sold to satisfy specific business requirements.
Various abbreviations used for this type of contract are LSTK for lump sum turn key, EPIC for engineering, procurement, installation & commissioning and EPCC for engineering, procurement, construction and commissioning. Use of EPIC is common, e.g., by FIDIC and most Persian Gulf countries. Use of LSTK is common in the Kingdom of Saudi Arabia.
Lump sum turnkey (LSTK) is a combination of the business-contract concepts of lump sum and turnkey.Lump sum is a noun which means a complete payment consisting of a single sum of money while turnkey is an adjective of a product or service which means product or service will be ready to use upon delivery.
A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors.
Turn Key’s contract with the jail trust expired and a vote on a new deal has been delayed. The company is now working on a month-to-month basis.
A contract manufacturer (CM) is a manufacturer that contracts with a firm for components or products (in which case it is a turnkey supplier). It is a form of outsourcing . A contract manufacturer performing packaging operations is called copacker or a contract packager .
Drinking coffee could extend your life up to two years, new research finds. Regular coffee consumption was found to be associated with increased health span (time spent living free from serious ...
Trump is betting his political future on this idea—that there is a deep, tribal and dark sea of the molten lava of hate and aggrievement.
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