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Turnkey refers to something that is ready for immediate use, generally used in the sale or supply of goods or services. The word is a reference to the fact that the customer, upon receiving the product, just needs to turn the ignition key to make it operational, or that the key just needs to be turned over to the customer. [4]
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.
On April 1, 2021, Vacasa finalized the acquisition of TurnKey Vacation Rentals, adding more than 6,000 U.S. properties to its portfolio, and bringing its total property count to more than 30,000 units. [28] On August 24, 2022, Vacasa announced former Expedia executive Rob Greyber will succeed Matt Roberts as CEO. [29]
The state's new "turnkey" program, currently a $1 million pilot project, could be another way to maximize the impact of the housing bond and increase income-restricted housing outside of Rhode ...
Some turnkey properties are even furbished and equipped with modern comforts. There are zero demographic requirements for US applicants; these can be people of all ages, pensioners, remote workers ...
A turnkey project is a way for a foreign company to export its process and technology to other countries by building a plant in that country. Industrial companies that specialize in complex production technologies normally use turnkey projects as an entry strategy.
That is our intellectual property people, and that is an important milestone in history of enterprise AI. ... but we deliver those services packaged in a turnkey application that offer economic ...
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.