Contingent contracts can also lead to effective agreement when each party has different time preferences.

Contingent contracts can be used in many types of settings such as work, school, home, etc.

Contingent contracts usually occur when both negotiating parties fail to reach an agreement.

In order to develop a successful contingent contract, both parties must apply integrative negotiating skills.

In regards to work, a common example of contingent contracts comes in the form of job negotiations.

However, contingent contracts can often include negotiations regarding flextime, job sharing, responsibilities, etc.

In order to be most effective, contingent contracts should include some possess some of the following characteristics:

However, contingent contracts do not increase integrative value, rather they affect distribution value (Brett 2007, p. 74).

Contingent contracts can be likened unto if-then agreements that state which actions under certain conditions will result in specific outcomes (Templar 2012, p. 122).

If they need people that bad they hire contingent contract workers who get paid hourly, but do not receive any addtional overtime pay besides their standard hourly rate.

Combinations of options allow investors to create a huge variety of contingent contracts: paper assets whose returns depend on the change in price of the underlying asset in very particular ways.

More recent developments known as the theory of incomplete contracts, pioneered by Oliver Hart and his coauthors, study the incentive effects of parties' inability to write complete contingent contracts, e.g. concerning relationship-specific investments.

And, wondrously, however the future unfolds, whether there's rain, sun, or snow in Nebraska, the dated contingent contracts that are appropriate come due, the contracts are fulfilled at the preestablished price for each contract, and all markets clear.

Although contingent contracts concerning employment packages are more the exception than the norm, these types of negotiations can be very successful, allowing both parties to walk away feeling very satisfied with the newly agreed upon arrangement (Krutzberg, Naquin 2011, p. 86-87).