A contingent contract agreement means that some condition must be met in order for the contract to be implemented. An indemnification contract agreement (also known as a hold harmless agreement) is a legally binding contract that holds a business harmless for any burden loss or damage done by the person or entity.
A "contingent contract" is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.
A contingency clause is a contract provision that requires a specific event or action to take place in order for the contract to be considered valid. If the party that's required to satisfy the contingency clause is unable to do so, the other party is released from its obligations.
Contingency Contract Examples If you fail to secure the financing within the stipulated period, either party may terminate the contract without any legal consequences. Another simple example is a child who agrees with their parent that they would receive a new bicycle if they receive an A in a specific class.
Contingent means that an event may or may not occur in the future, depending on the fulfillment of some condition that is uncertain. This term is often used in contracts where the event will not take effect until the specified condition occurs.
A contingent contract is a legal agreement in which the terms and conditions only apply or take effect if a specific event occurs. Essentially, the parties involved agree to perform actions or obligations based on the occurrence or non-occurrence of a particular event in the future.
A behavior contract, also known as a contingency contract, is a written agreement between an individual with autism and their caregiver or ABA professional.
A contingency contract is an agreement between a student and teacher which states behavioral or academic goals for the student and reinforcers or rewards that the student will receive contingent upon achievement of these goals.
Contingency planning: A management process that analyses specific potential events or emerging situations that might threaten society or the environment and establishes arrangements in advance to enable timely, effective and appropriate responses to such events and situations.
Examples of contingency plans in business could include: Strategies to ensure minimal operational disruption during crises, such as unexpected market shifts, regulatory compliance changes, or severe staff shortages.