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English definition of “contingency allowance”

contingency allowance

noun [C]
 
 
ACCOUNTING an amount of money that is added to a calculation of costs to cover things that are not known about now but that may have to be paid for in the future: Another £13.4m has been provided for professional fees and as a contingency allowance.
(Definition of contingency allowance from the Cambridge Business English Dictionary © Cambridge University Press)
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