Simple Definition:

Contingency is a term used to describe something that may or may not happen, depending on other events or circumstances. It refers to a future event that is uncertain and could occur under certain conditions or situations.

For example:

• The outdoor wedding ceremony has a contingency plan in case it rains. (Contingency plan: a backup plan in case the original plan fails)
• A company might have money set aside for contingencies (unplanned events), such as a machine breaking and needing replacement or service.

Very Simple Definition:

A contingency is something that might happen [occur] in the future, but we are not sure about it.

Examples:
– My mom packed extra snacks for our road trip as a backup, in case we get hungry.
– I brought my jacket just in case it gets cold later.