Definition of "contingency"

contingency

/kənˈtɪnd͡ʒənsi/

noun
countable and uncountable, plural contingencies
1. (uncountable) The quality of being contingent, of happening by chance.
2. (countable) A possibility; something which may or may not happen. A chance occurrence, especially in finance, unexpected expenses.
  Quotations
  There was also the imperative necessity of creating a reserve fund for unforeseen contingencies, and the question ever present was how was money to be found.
  1909, John Claude White, Sikhim and Bhutan, page 29
  In light of the inherent survival threat posed by zombies and absent specified guidance for detailed planning to address such a contingency, USSTRATCOM has taken the initiative to develop a JOPES Level 3 plan (CONPLAN) consistent with guidance derived from other specified planning efforts to ensure U.S. and Allied freedom of action from zombie domination.
  2011 April 30, United States Strategic Command, CONPLAN 8888-11 "COUNTER-ZOMBIE DOMINANCE"‎ (PDF), archived from the original on 15 March 2023, SITUATION
3. (finance, countable) An amount of money which a party to a contract has to pay to the other party (usually the supplier of a major project to the client) if he or she does not fulfill the contract according to the specification.
4. (logic, countable) A statement which is neither a tautology nor a contradiction.