A sum carried to manage identified uncertainty or potential change that is not priced as defined work.
Why it matters
Contingency is not margin. Keeping it visible helps the reviewer understand how much risk is being carried in the price.
Example in practice
The internal estimate carries contingency for a known access risk while the quote states the assumption used.
Use the term carefully
Record the uncertainty and intended coverage. Do not use it to hide identified work missing from the scope.
Compare related terms
Use the price-review checklist to keep the client wording and approved basis consistent.