Contribution of iron band (8)

I believe the answer is:

offering

'contribution' is the definition.
(I know that offering is a type of contribution)

'of iron band' is the wordplay.
'iron' becomes 'Fe' (Fe is the chemical symbol for iron).
'band' becomes 'ring' (a ring is a band of metal).
'of'+'fe'+'ring'='OFFERING'

(Other definitions for offering that I've seen before include "Contribution, sacrifice" , "Present" , "making a bid" , "Gift or contribution as tendered" , "Religious sacrifice" .)

I've seen this clue in the Sydney Morning Herald.

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