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
Commonly, the dependence upon a stated event that must occur before a contract is binding For example, the sale of a house, contingent upon the buyer obtaining financing
A condition that must be met before a contract is legally binding For example, home buyers often include a contingency that specifies that the contract is not binding until after a satisfactory report from a qualified home inspector See home inspection
A condition that must be met before a contract is legally binding For example, homepurchasers often include a contingency that specifies that the contract is not binding until the purchaser obtains a satisfactory home inspection report from a qualified home inspector
Often placed in a real estate contract, this is a condition that must be met before a contract is legally binding Buyers and sellers often each add several contingencies
Conditions which must be satisfied before the buyer can close the purchase of a property Contingencies are generally outlined in the purchase contract between the buyer and seller
A condition that must be met before a contract is legally binding For example, home purchases often include a contingency that specifies that the contract is not binding until the purchaser obtains a satisfactory home inspection report from a qualified home inspector
A condition that must be met before a contract is legally binding For example, homebuyers often include a contingency that specifies that the contract is not binding until a qualified buyer for their current home is found
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 does not fulfil the contract according to the specification
A condition upon which a valid contract is dependent Typically found in the offer to purchase and the purchase and sale agreement For example, the sale of a house is contingent upon the buyer obtaining adequate financing
A condition that must be met before a contract is legally binding For example, home purchasers often include a contingency that specifies that the contract is not binding until the purchaser obtains a satisfactory home inspection report from a qualified home inspector
A condition that must be met before a contract is binding For example, the sale of a house might be contingent upon the seller paying for certain repairs