LekhoriLekhoriThe quality of being contingent, of happening by chance.
A possibility; something which may or may not happen. A chance occurrence, especially in finance, unexpected expenses.
There was also the imperative necessity of creating a reserve fund for unforeseen contingencies, and the question ever present was how was money to be found.
An amount of money which a party to a contract has to pay to the other party (usually the supplier of a major project to the client) if he or she does not fulfill the contract according to the specification.
From contingent + -cy (16th century).
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