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Turnkey means all-inclusive or complete; so turnkey engineering solutions cover every step of your product development process, from engineering to design, and release. These services can be invaluable in speeding up your product development time and saving you money.
1. adj. [Drilling] A type of financing arrangement for the drilling of a wellbore that places considerable risk and potential reward on the drilling contractor.
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.
A turnkey project is a delivery method in which a single entitya contractorworks with a project owner under a single contract to complete all stages of a project from detail engineering through construction.
Simply stated the turnkey concept requires the drilling contractor to drill a loggable hole to a predetermined depth at a fixed lump sum cost. Though easy to define, the turnkey concept requires the contractor to accept more risks than required in the familiar daywork and footage concepts.
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People also ask

Turnkey. Turnkey is a traditional public sector procurement model for infrastructure facilities. Generally, a private contractor is selected through a bidding process. The private contractor designs and builds a facility for a fixed fee, rate or total cost, which is one of the key criteria in selecting the winning bid.
Turnkey delivery typically means the development and delivery of a facility ready-for-use by the occupants. Removing the worry or hassle from the building owner, a turnkey developer handles the responsibilities that would fall on the owner in traditional Design-Bid-Build (DBB) delivery.
Definition of turnkey solutions: Turnkey solutions are ready-to-go solutions that are easily deployed in a business, effectively needing the end user to simply turn the key to get started.
1. adj. [Drilling] A type of financing arrangement for the drilling of a wellbore that places considerable risk and potential reward on the drilling contractor.
A turnkey business may refer to a business that can be purchased without having to make any changes to the business model or products sold. For example, a franchise like Taco Bell is a type of turnkey business.

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