Some common synonyms of contingent are accidental, casual, and fortuitous. While all these words mean “not amenable to planning or prediction,” contingent suggests possibility of happening but stresses uncertainty and dependence on other future events for existence or occurrence.
What contingency means?
1 : a contingent event or condition: such as. a : an event (such as an emergency) that may but is not certain to occur trying to provide for every contingency. b : something liable to happen as an adjunct to or result of something else the contingencies of war.
Does contingent mean unlikely?
Possible contingent liabilities are as likely to occur as not and need only be disclosed in the footnotes of financial statement. Remote contingent liabilities are extremely unlikely to occur and do not need to be included in financial statements.
Which one is a contingency?
A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic. A contingency plan might include arranging a company’s affairs so that it can weather negative outcomes with the least distress possible.
What is the opposite of contingency?
Opposite of a future circumstance which is possible but cannot be predicted with certainty. unlikelihood. uncertainty. doubt. dubiousness.
What is contingent in Tagalog?
Translation for word Contingent in Tagalog is : nababatay.
Which of the following is the best definition of a contingency?
noun, plural con·tin·gen·cies. dependence on chance or on the fulfillment of a condition; uncertainty; fortuitousness: Nothing was left to contingency. a contingent event; a chance, accident, or possibility conditional on something uncertain: He was prepared for every contingency. something incidental to a thing.
What does the term contingency planning mean?
Contingency planning is defined as a course of action designed to help an organization respond to an event that may or may not happen. Contingency plans can also be referred to as ‘Plan B’ because it can work as an alternative action if things don’t go as planned.
What is contingent insurance?
Contingent Insurance — the term contingent insurance refers to a policy that is contingent on the absence of other insurance. In modern terms, contingent insurance refers to a policy that has an escape-type other insurance provision saying that it does not apply if there is another policy providing coverage.
What must a contingency plan include?
Your contingency plan should include a step by step guideline for what to do in case the event has occurred and how to handle the situation. Furthermore, it should also include information about the key personnel to reach out to including their up to date contact information.
Can I put an offer on a house that is contingent?
In most cases, putting an offer in on a contingent home is an option to consider. Although it doesn’t guarantee you’ll close on the home, it does mean you could be first in line should the current contract fall through. Putting an offer in on a contingent home is similar to the homebuying process of any active listing.
