default: translation
to fail to meet an obligation when due, such as paying a debt. Glossary of Business Terms
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Failure to meet a margin call or to make or take delivery. The failure to perform on a futures contract as required by exchange rules. The CENTER ONLINE Futures Glossary
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(1) noun - A condition in which a loan or investment is not performing as expected because of the debtor's failure to act or refrain from acting in ways contractually agreed upon. As in "the loan is in default" or "an event of default."
(2) verb - A debtor's failure to act or refrain from acting in ways contractually agreed upon in the loan documents. Most often, default is the debtor's failure to pay. American Banker Glossary
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The failure to make timely payment of interest or principal on a debt security or to otherwise comply with the provisions of a bond indenture. A breach of a covenant. Bloomberg Financial Dictionary
In context of project financing, a technical default signals a project parameter is outside defined or agreed limits or a legal matter is not yet resolved. Bloomberg Financial Dictionary
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Failure to perform on a contract as required by exchange rules, such as the failure to meet settlement variation, a performance bond call, or to make or take delivery.Chicago Mercantile Exchange Glossary
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Failure by a party to fulfil its obligations on a future or options contract when they fall due, e.g. failure to meet a margin call, or to make or take delivery. Dresdner Kleinwort Wasserstein financial glossary
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Failure to complete a funds or securities transfer according to its terms for reasons that are not technical or temporary, usually as a result of bankruptcy. Default is usually distinguished from a failed transaction. Euroclear Clearing and Settlement glossary
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The non-performance of a stated obligation. Exchange Handbook Glossary
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▪ I. default de‧fault 1 [dɪˈfɒlt ǁ -ˈfɒːlt] noun
1. by default if something happens or is decided by default, it happens or is decided in that way because you did not do anything to change it:
• They won the last election by default.
2. FINANCE [countable, uncountable] when someone fails to pay money that they owe at the right time:
• An asset can be repossessed by a lessor in the event of a default on the lease payments.
• The banks have decided that the company is in default on its loan agreements.
3. [uncountable] LAW when someone fails to do something that it is their duty to do:
• The contract includes provisions for loss and expense suffered by the contractors due to default by the employer.
4. [uncountable] LAW when someone fails to come to court or make a written statement when they are supposed to:
• The defendant will have to explain his default and satisfy the court that he has a defence which ought to be heard.
5. [countable, uncountable] COMPUTING the way in which things will be arranged on a computer screen or done by a computer unless you change them:
• If the defaults are acceptable the user can just press Return.
• This icon appears by default.
• The default margin settings are 1.25 each for a page 8.5 wide.
[m0] ▪ II. default default 2 verb [intransitive]
1. FINANCE BANKING to fail to pay money that you owe at the right time:
• The Act covered what mortgage lenders could do to recover their money if borrowers defaulted.
default on
• He defaulted on his child support payments.
2. LAW to not do something that it is your duty to do:
• If a party defaults in its obligations to the project, then the party's right to continue participating in the project shall be terminated.
3. COMPUTING if a computer program defaults to a particular thing, it does that thing unless you instruct it to do something else:
default to
• Microsoft Word will default to starting each new line with a capital letter unless you customize the settings.
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Failure to meet an obligation such as a payment of interest or principal. Technically, the borrower does not default. The initiative comes from the lender who declares the borrower is in default.
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Ⅰ.
default UK US /dɪˈfɔːlt/ noun [C or U]
► FINANCE »
Many experts say a default would raise interest rates in the future because the government would be seen as a higher-risk borrower.
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Any default on the interest payments will have serious consequences.
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Creditors are frequently obliged to terminate the consumer credit agreement because the debtor is in default.
► LAW »
There will be a joint government review of the agreement if there is any default.
► IT »
Checking this box means that your computer will now use this printer as the default.
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The default is to provide a statement monthly.
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This is the default setting, but you can change it by going to the Options menu.
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We recommend using the defaults that are already set.
● by default — Cf. by default
Ⅱ.
default UK US /dɪˈfɔːlt/ verb [I]
► FINANCE default on a payment/a mortgage/your rent »
If a company defaults on its rent, another tenant can be found.
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I have never defaulted or been late with previous payments.
► LAW default on an agreement/a contract »
They claimed that education providers had defaulted on their agreement with students to provide a course.
► IT »
If you do not enter a value it will default to a delay of 20 seconds.