Definition
A Turnkey Contract (often called Design-Build) radically simplifies the client's life. Instead of the client hiring an architect to draw plans, and then separately hiring a builder to construct them, the client hires a single "Turnkey" firm. This single entity takes full responsibility for everything—from the initial blueprints and municipal approvals to pouring the concrete and painting the walls. The client simply "turns the key" and walks into a finished building.
Practical Example
A tech startup wants to build a new corporate headquarters but lacks real estate expertise. They sign a Turnkey Contract with a massive EPC firm for a fixed ₹50 Crores. The EPC firm hires the architects, designs the HVAC, lays the foundation, and furnishes the interior. The startup assumes zero construction risk and just moves in 18 months later.
Application in Superwise
In Turnkey projects, margin control for the EPC firm is intense because the overall price is generally fixed. Superwise provides the EPC firm with holistic control spanning both the Design and Build phases. By locking the original approved budget inside Superwise, the procurement team is digitally barred from sourcing luxurious materials that would shatter the strict, fixed-price profit margin.
Related Feature
Learn how Superwise handles this in our dedicated feature:
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