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The term turnkey is also often used in the technology industry, most often to describe prefabricated “packages” in which everything needed to perform a certain type of task (e.g.B. audio editing) is compiled by the vendor and sold as a bundle. [Citation required] It is often a computer with pre-installed software, different types of hardware and accessories. These packages are usually referred to as appliances. A website with prefabricated solutions and certain configurations is called the turnkey site. In the same way, this term can be used to promote the sale of an established business, including all the equipment necessary for operation, or by a business-to-business provider that offers complete packages for business creation.  An example would be the creation of a “turnkey” hospital, which would be the construction of a complete medical center with medical equipment installed. A turnkey contract is a kind of contract or agreement between oil and gas organizations and contractors that stipulates that when the contract is awarded to a given contractor on the basis of the tendering procedure, that contractor must meet all the requirements of the project, order it and hand it over to the oil and gas organization in good condition. The tender file includes the entire project, price details, product details, what is needed, when necessary, penalty, payment plan, etc.
by the oil and gas organization to the contractor. Based on the details of the tender procedure, projects can be either a turnkey project, Greenfield projects or Brownfield projects. A turnkey project or key contract, as described by Duncan Wallace (1984), is: A turnkey computer system is a complete computer, including hardware, operating system, and application, that are developed and sold to meet certain business requirements. The term turnkey is more or less synonymous with “Design and Build”, “Package Contact” and “Design Contractor”. This is the most popular type of contract management system in the construction industry. A turnkey, turnkey or turnkey project is a type of project designed to be sold as a finished product to any buyer. This is in contrast to Build to Order, where the designer builds an item to the buyer`s exact specifications or when an incomplete product is sold assuming the buyer would finalize it. . . .