Contingency - When estimating the cost for a project, product or other item or investment, there is always uncertainty as to the precise content of all items in the estimate, how work will be performed, what work conditions will be like when the project is executed and so on.
An arbitrator is one who delivers a fair judgment to resolve a dispute. The arbitrator's decision may or may not be favorable to one or more parties involved; however, the arbitrator is a neutral third party chosen by the disputing parties in lieu of litigating in court.
2. arbitrator. Judge, referee, umpire refer to one who is entrusted with decisions affecting others. Judge, in its legal and other uses, implies particularly that one has qualifications and authority for giving decisions in matters at issue: a judge appointed to the Supreme Court; a judge in the pie competition. A referee usually examines and reports on the merits of a case as an aid to a court.