contingent liability

American  

noun

1. a liability dependent upon the occurrence of a particular event, as default by the maker of a guaranteed loan.

---

Example Sentences

Kaneva had calculated that roughly $352 billion of maximum insurance coverage was required but the DFC, unless authorized by Congress, was only in a position to increase its maximum contingent liability to $205 billion, leaving approximately $154 billion exposure uninsured.

From MarketWatch

Last December, in a report, the IMF flagged India's "elevated public debt levels and contingent liability risks".

From BBC

Enfield £2.2m and Kensington and Chelsea a contingent liability of £1.5m.

From BBC

Each breach carries a maximum penalty of A$18 million, and Mayne said it would be appropriate for the bank to note a contingent liability for a potential fine in the financial accounts to be released this week.

From Reuters

Each breach carries a maximum penalty of A$18 million, and Mayne said it would be appropriate for the bank to note a contingent liability for a potential fine in the financial accounts to be released this week.

From Reuters