| 9029. Package job contract, or Turn-key contract : A contract in which the government or organization undertaking a construction project, makes only one party responsible for all services connected with the work, including planning, design, drawing of specifications and construction. This type of contract may be made either on a firm price or on cost plus basis. It is based on functional type of specification, describing the general features and requirements of the finished plant. The contractor draws up all the detailed engineering designs and specifications, and performs the construction and testing. The work is considered complete when he turns over the plant in satisfactory operation to the owner. |
