International turnkey construction projects are often complex transactions, requiring correspondingly complex legal documentation. Moreover, many such major construction projects are an important element in international development, and it is vital that the arrangements put in place be durable, clear and equitable.
The ICC Task Force on Turnkey Transactions prepared a model international turnkey contract for use in major projects, in order to provide contractors and employers with a unique, balanced platform that is fair to all parties. The model also accommodates the desire of all parties for price and scope certainty, the need for swift and effective dispute resolution, and the need for complete and informed allocation of risks.
This model contract benefited from the active participation of the Major Project Turnkey Group, co-chaired by Fabio Bortolotti (Italy) and Robert Knutson (UK). It was published in 2007, and can be purchased through ICC Publications.