(countable) A possibility; something which may or may not happen. A chance occurrence, especially in finance, unexpected expenses. [1610s]
(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.
“The new film is likely to be set before the Second World War, and could feature a strong contingent of British stars.”
“Since companies can't prepare for every contingent, the best protection against losses related to upheaval in business productivity is building resiliency.”