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Contingency
01
a possible condition in future that might happen as a result of something
02
the quality of happening by chance
03
the funds that are set aside for unforeseen expenses that may arise in the future
Example
The company allocated a portion of its budget as a contingency to cover unexpected costs, such as equipment repairs or legal fees.
As a prudent financial practice, homeowners should maintain a contingency fund to cover sudden home repairs, like a leaking roof or a malfunctioning furnace.
Non-profit organizations often establish contingency funds to prepare for unexpected drops in donations or to address urgent community needs.
word family
conting
Verb
contingence
Noun
contingency
Noun
Nearby Words
