provisionpro·vi·sion /prəˈvɪʒən/ noun1[uncountableU] the act of providing something that someone needsthe provision of childcare facilities at work
provision for people with disabilities
2make provision(s) to make plans for future needsmake provision(s) forPeople should be encouraged to make provision for themselves and their families; state support should only provide a safety net for the very poor.
3[countableC, uncountableU]LAW a part of a law, contract, agreement etc that relates to a particular subjectUnder the document, there was provision for the improvement of hospital standards.
→ call provision → grandfather provision4[countableC]ACCOUNTING an amount set aside by a company in its accounts to protect it against something bad that has happened or that might happen in the future. This amount has to be taken away in calculating profit for a particular period of timeprovision toThe company made a provision to cover the costs of 4000 job cuts.
The bank took (=made) provisions to comply with tougher regulatory standards.
→ bad debt provision → loan-loss provision → restructuring provision → tax provision