Turnkey Contract Basis definition
Turnkey Contract Basis means providing a completely finished facility ready for occupancy and use by the City in accordance with the requirements of the Design Documents, at a cost not exceeding the Contract Price, within the Contract Time, with Design- Builder assuming all risks relating to cost overruns, defects and delays arising from the design and/or the method of construction.
Examples of Turnkey Contract Basis in a sentence
Design- Builder shall furnish the design and other Services, provide all material of the Project and shall construct the Project as designed, in accordance with all professional engineering principles and construction practices generally accepted as standards of the industry in the State of California, in a good and workmanlike manner, free from defects and in accordance with the terms and conditions set forth in the Contract Documents on a Turnkey Contract Basis.