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Contingency may refer to:

When estimating the cost for a Project, product or other item or investment there is always Uncertainty as to precise content of all items in the estimate how work will be

Dictionary

contingency

-noun

  1. (uncountable) The quality of being contingent; unpredictability.
  2. (countable) A possibility; something which may or may not happen.
  3. (countable) 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 fulfil the contract according to the specification.
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