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:
Definition
[ a.]