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.
The quality of being contingent, of happening by chance.
A possibility; something which may or may not happen. A chance occurrence, especially in finance, unexpected expenses.
A statement which is neither a tautology nor a contradiction.
A promise to pay a sum of money in the event that another person fails to fulfill an obligation.
One who undertakes to pay money or perform other acts in the event that his principal fails therein.
A substitute; a hostage.
Evidence; confirmation; warrant.
Certainty.
That which makes sure; that which confirms; ground of confidence or security.