Time and Chance is the third studio album by the jazz fusion band Caldera, released in 1978 on Capitol Records.

[2] Alex Henderson of AllMusic wrote "As strong as Caldera and Sky Islands were, neither album made Caldera a big name in the jazz-fusion world; nor did the band's third album, Time and Chance.

Quite possibly, a lot of the fusion lovers who were craving Return to Forever, Weather Report, and Al Di Meola in the 1970s would have appreciated Caldera as well if they had been exposed to their music.

You can't blame that on Caldera's material, for the writing of Jorge Strunz and Eduardo del Barrio is excellent on this LP.

The band's imaginative nature is hard to miss on instrumentals that range from the flamenco-influenced "Mosaico" and the optimistic "Revivisence" to the Al Did Meola-ish "Horizon's End.