an amount of money established from retained earnings to allow for unforeseen losses in business.
noun 1. any new tax that would be necessary in case of a shortfall in revenues.
[kuh n-tin-juh nt] /kənˈtɪn dʒənt/ adjective 1. dependent for existence, occurrence, character, etc., on something not yet certain; conditional (often followed by on or upon): Our plans are contingent on the weather. 2. liable to happen or not; uncertain; possible: They had to plan for contingent expenses. 3. happening by chance or without known cause; […]
noun, Insurance. 1. a person who becomes the beneficiary if the primary beneficiary dies or is otherwise disqualified.
noun 1. a fee paid to a lawyer conducting a suit, especially a suit for damages, in the event that the suit is successful and generally based on a percentage of the sum recovered.