n (uncountable) The quality of being contingent, of happening by chance; unpredictability. (defdate|1560s)
n (countable) A possibility; something which may or may not happen. A chance occurrence, especially in (finance), unexpected expenses. (defdate|1610s)
n (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.