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How is Turnaround Time defined in a legal contract?

• Turnaround Time means the specified time period in a plan between the completion of a service and the start of the next service on the same day using the same or similar resources. Seen in 27 SEC filings.
• Turnaround Time means the time specified for each job and type of work for a client, within which the work needs to be transformed into completed tasks; this time is stipulated prior to assigning the jobs to the workers. Seen in 4 SEC filings.
• Turnaround Time means the total length of time between a claim being submitted and the decision to either settle or reject the claim. Seen in 3 SEC filings.
• Turnaround Time means the average amount of time, measured in calendar days, spent receiving, inspecting, testing, repairing, modifying, replacing, preparing, packaging, and shipping necessary to confirm or restore a component's usefulness. Seen in 3 SEC filings.
• Turnaround Time means the period from when the occurrence takes place. Seen in 3 SEC filings.
• Turnaround Time or TAT means the time period between receipt of an order or purchase order, in written, and the delivery of the ordered contract. Seen in 3 SEC filings.

Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Turnaround Time means the specified interval between the end of one task or service and the start of the next.

Relevant Contract Types

• Service Level Agreements
• Software Development Contracts
• Manufacturing Contracts
• Shipping Contracts

Relevant Circumstances

• In the negotiation of service delivery timelines.
• In the establishment of manufacturing and shipping schedules.
• Within the setting of software development and update cycles.

Relevant Sectors

• Information Technology
• Manufacturing
• Transport and Logistics

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Genie Definition 2

Turnaround Time (TAT) means the period from receipt of a task to its completion or delivery.

Relevant Contract Types

• Project Management Contracts
• Consulting Services Agreements
• Outsourcing Agreements

Relevant Circumstances

• In defining the timeframes for consulting projects.
• In defining delivery timelines for outsourced projects.
• Within the setting of project duration and deliverable schedules in project management contracts.

Relevant Sectors

• Consulting
• Business Services
• Information Technology

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