- Possible, or liable, but not certain, to occur;
incidental; casual. - Dependent on that which is undetermined or unknown; as,
the success of his undertaking is contingent upon events which he can
not control. - Dependent for effect on something that may or may not
occur; as, a contingent estate.
2 . Contingent
[ n.]
- An event which may or may not happen; that which is
unforeseen, undetermined, or dependent on something future; a
contingency. - That which falls to one in a division or apportionment
among a number; a suitable share; proportion; esp., a quota of troops.
Meaning of 'contingent' (Princeton's WordNet)
1 . contingent
[ n]
Meaning (1): - a gathering of persons representative of some larger group
Example in sentence:
each nation sent a contingent of athletes to the Olympics
Meaning (2): - a temporary military unit
Example in sentence:
the peacekeeping force includes one British contingent
3 . contingent
[ s]
Meaning (3): - being determined by conditions or circumstances that follow
Example in sentence:
arms sales contingent on the approval of congress
Meaning (4): - uncertain because of uncontrollable circumstances
Example in sentence:
the results of confession were not contingent, they were certain
Contingent Beneficiary Contingent Beneficiary of a life insurance policy is entitled to receive the policy proceeds on the insured’s death if the primary beneficiary dies before the insured...
Contingent business interruption insurance Contingent business interruption insurance refers insurance that covers a firm’s losses when a key supplier’s or customer’s business is damaged.
Contingent liabilities Contingent liabilities is the debt obligations that will not come due unless certain events occur, such as borrower default or the exercise of product warranties.
Contingent obligation Contingent obligation is a financial instrument whose issuer pledges to pay if certain events (such as default on a loan) occur; for example,
Contingent worker Contingent worker is refers to an individual employed in a job that does not have an explicit contract for long-term employment (i.e., independent contractor or temporary employee).
Contingent liability Contingent liability is a potential liability that may become an actual liability in the future.
Using the following guidelines, companies should report contingent liabilities: