EPC/Turnkey Basis definition

EPC/Turnkey Basis means where the Contractor takes total responsibility for design and execution of the project with little involvement of the Employer. Under the usual arrangements of turnkey projects the contractor carries out all the Engineering, Procurement and Construction (EPC) providing a fully equipped facility ready for operation.
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Related to EPC/Turnkey Basis

  • Test on Completion means such tests as prescribed in the Contract to be performed by the Contractor before the work is Taken Over by TSECL.

  • Project Schedule means a document that, with respect to each Phase of the Project, identifies, coordinates and integrates the anticipated design and construction schedules, the Contracting Authority’s and Owner's responsibilities, government authority reviews and other activities as are necessary for the timely completion of the Work.

  • Turnkey means a procurement process where one service provider assumes total responsibility for all aspects of the project and delivers the full end product / service required by the contract.

  • Milestone Schedule means Seller’s milestone schedule, the form of which is attached to this Agreement as Exhibit Q.

  • Project Completion means the date, as determined by the Division after consultation with the Recipient, that operation of the Project is initiated or is capable of being initiated, whichever comes first.