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Contingency

   Also found in: Dictionary/thesaurus, Medical, Legal, Acronyms, Wikipedia, Hutchinson 0.04 sec.
Contingency
An economic event, usually negative, that is in the process of occurring and, therefore, has not yet been resolved.

Notes:
For example, pending litigation would be considered a contingent liability.

See also: Liability
Contingency
An additional amount or percentage added to any cash flow item (ie. Capex). Care is needed to ensure it is either to be spent or to remain as a cushion.
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