Glossary · T
Turnkey Contract (Design & Build)
A contract under which one firm designs and builds the project for the client, who takes over a finished building.
What is Turnkey Contract (Design & Build)?
A Turnkey Contract, also called design-build, is an agreement in which a single firm takes full responsibility for a project, from the blueprints and municipal approvals to the concrete and the paint. The client does not hire an architect and a builder separately. It signs one contract, then turns the key and walks into a finished building.
Practical example
A tech startup that lacks real estate expertise signs a Turnkey Contract with an EPC firm to build its corporate headquarters for a fixed ₹50,00,00,000. The EPC firm hires the architects, designs the HVAC, lays the foundation and furnishes the interior. The startup carries no construction risk and moves in 18 months later.
In SuperWise
In SuperWise a works contract is recorded as a work order, whose lines tie BOQ items to a contracted quantity and rate. A work order can also carry billing milestones, each a fixed amount due when a named deliverable such as Foundation Complete is reached. After approval it can be amended, which raises its revision number and keeps a snapshot of the earlier version.
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