Contingent liabilities
Glossary of Capital Budgeting and Infrastructure Governance, published by the Organisation for Economic Co-operation and Development (OECD) in 2018, defines contingent liabilities as: ‘…liabilities whose budgetary impact is dependent on future events which may or may not occur. Common examples include government loan guarantees, government insurance programmes, and legal claims against the government.’
The glossary of statistical terms, published by the Organisation for Economic Co-operation and Development (OECD), defines contingent liabilities as: ‘Obligations that have been entered into, but the timing and amount of which are contingent on the occurrence of some uncertain future event. They are therefore not yet liabilities, and may never be if the specific contingency does not materialize.’
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