Provision

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A Provision is a legal or financial arrangement that sets aside resources or creates terms to handle future events, contingencies, or obligations.



References

2023

2016a

2016b

  • (Investopedia, 2016) ⇒ http://www.investopedia.com/terms/p/provision.asp
    • QUOTE: A provision is a legal clause or condition contained within a contract that requires one or both parties to perform a particular requirement by some specified time or prevents one or both parties from performing a particular requirement by some specified time. For example, the anti-greenmail provision contained within some companies' charters protects shareholders from the board wanting to pass stock buybacks.