A contingency reserve is an amount of money set aside to cover unexpected or unforeseen expenses or events. It acts as a safety net or cushion to provide financial security in case something unexpected happens. Full definition
When a brokerage is contracted to hold and administer their strata corporation client's contingency reserve funds, these funds must be held in a brokerage trust account. (recbc.ca)
The budget plan contains an annual contingency reserve of $ 3 billion. (3dpolicy.ca)
The building is well maintained (I chair the strata council) and has a solid contingency reserve. (moneysense.ca)