Word forms: 3rd person singular presenttense defaults, present participle defaulting, past tense, past participle defaultedpronunciation note: Pronounced (diːfɔːlt) for meanings [sense 2] and , [sense 3].
1. verb
If a person, company, or country defaults on something that they have legally agreed to do, such as paying some money or doing a piece of work before a particular time, they fail to do it.
[law]
The credit card business is down, and more borrowers are defaulting on loans. [VERB + on]
The company defaulted on its initial payment of £40 million. [VERBon noun]
Default is also a noun.
The corporation may be charged with default on its contract with the government.
The creditors haven't declared them in default.
2. adjective [ADJECTIVE noun]
A default situation is what exists or happens unless someone or something changes it.
...default passwords installed on commercial machines.
Death, not life, is the default state of cells.
3. uncountable noun
In computing, the default is a particular set of instructions which the computer always uses unless the person using the computer gives other instructions.
[computing]
The default is usually the setting that most users would probably choose.
...default settings.
4.
See by default
5.
See in default of
More Synonyms of default
default in British English
(dɪˈfɔːlt)
noun
1.
a failure to act, esp a failure to meet a financial obligation or to appear in a court of law at a time specified
2.
absence or lack
3. by default
4. in default of
5. judgment by default
6.
lack, want, or need
7. ( also ˈdiːfɔːlt) computing
a.
the preset selection of an option offered by a system, which will always be followed except when explicitly altered
b.
(as modifier)
default setting
verb
8. (intr; often foll by on or in)
to fail to make payment when due
9. (intransitive)
to fail to fulfil or perform an obligation, engagement, etc
to default in a sporting contest
10. law
to lose (a case) by failure to appear in court
11. (transitive)
to declare that (someone) is in default
Word origin
C13: from Old French defaute, from defaillir to fail, from Vulgar Latin dēfallīre (unattested) to be lacking
default in American English
(diˈfɔlt; dɪˈfɔlt)
noun
1.
failure to do something or be somewhere when required or expected
; specif.,
a.
failure to pay money due
b.
failure to appear in court to defend or prosecute a case
c.
failure to take part in or finish a contest
2. Computing
a preset choice, setting, etc. for automatic use as by a program when no other is specified by a user
often used attributively
a default disk drive on a PC
3. Obsolete
a fault, lack, or want
verb intransitive
4.
to fail to do something or be somewhere when required or expected
; specif.,
a.
to fail to make payment when due
b.
to fail to appear in court when required
c.
to fail to take part in or finish a contest
5.
to lose a contest by default
verb transitive
6.
to fail to do, pay, finish, etc. (something) when required
7.
to lose (a contest, etc.) by default; forfeit
Idioms:
in default of
Derived forms
defaulter (deˈfaulter)
noun
Word origin
ME < OFr defaute < VL *defallita, pp. of *defallere, to lack < L de-, away + fallere, to fail
default in Finance1
(dɪfɔlt)
Word forms: (regular plural) defaults
noun
(Finance: General)
A default is a failure to pay money that is owed.
Investors should ask whether it makes sense to insure against a default on Treasury bonds.
A good rating is not an iron-clad guarantee against a default, but, at least it provides an objective assessment of the company's repayment capacity.
A default is a failure to pay money that is owed.
default in Finance2
(dɪfɔlt)
Word forms: (present) defaults, (past) defaulted, (perfect) defaulted, (progressive) defaulting
verb
(Finance: General)
If a person or organization defaults on a payment, they fail to pay an amount they owe.
Purchasers of bonds need to know whether a corporation is likely to default on its bonds.
The credit card business is down, and more borrowers are defaulting on loans.
If a person or organization defaults on a payment, they fail to pay an amount they owe.
default in Accounting
(dɪfɔlt)
Word forms: (present) defaults, (past) defaulted, (perfect) defaulted, (progressive) defaulting
verb
(Accounting: Basic)
If a person or organization defaults on a payment, they fail to pay an amount that they owe.
Purchasers of bonds need to know whether a corporation is likely to default on its bonds.
The credit card business is down, and more borrowers are defaulting on loans.
If a person or organization defaults on a payment, they fail to pay an amount that they owe.
Examples of 'default' in a sentence
default
Your default setting should be passive.
Times, Sunday Times (2016)
After two losses in a row, that seemed to be the default setting.
Times, Sunday Times (2016)
The default position is that UK employment rights remain unchanged.
Times, Sunday Times (2017)
The English default position is that the Norman conquest was a national tragedy.
Times, Sunday Times (2016)
The concerns often focus around debts that have not been defined by Funding Circle as having defaulted but where payment is long overdue.
Times, Sunday Times (2016)
The default option is that we pull out altogether.
Times, Sunday Times (2008)
Failure to get approval for the deal would result in the company defaulting on its bank debt.
Times, Sunday Times (2010)
The charges meant he spiralled into debt after defaulting on credit cards.
The Sun (2014)
The default settings of humanity require us to seek suffering over thanksgiving.
Christianity Today (2000)
The country could face capital controls and a banking crisis if it defaults on its obligations.
Times, Sunday Times (2015)
Not once did she default on a payment.
Times, Sunday Times (2013)
Greece has no option but to default.
Times, Sunday Times (2011)
Picking up a book was my default setting.
Times, Sunday Times (2015)
For years it was their default position.
Times, Sunday Times (2008)
Last year it defaulted on this obligation for the first time.
Times, Sunday Times (2013)
Fears that companies will default on bond payments has sent yields soaring.
Times, Sunday Times (2009)
The watchdog said yesterday that it was close to making an announcement on the future of credit card default charges.
Times, Sunday Times (2006)
This says that the company is in default if it fails to meet its obligations on any of itsdebt issues.
Charles A. D'Ambrosio & Stewart D. Hodges & Richard Brealey & Stewart Myers Principles of Corporate Finance (1991)
The prospect of a bigger Greek default is very real.
Times, Sunday Times (2012)
The default setting of the England rugby fan is knowing condemnation fading to erudite contempt.
Times, Sunday Times (2012)
Yet a country can't default on its international obligations without costs.
Times, Sunday Times (2015)
Credit default swaps offered none, obscuring risk instead of clarifying it.
Times, Sunday Times (2016)
Nobody should pretend that an untidy Greek exit and default would be easy.
Times, Sunday Times (2012)
If a country defaults on its bonds, what happens?
Times, Sunday Times (2015)
But suppose that the tax advantages of debt spur the firm on to a high debt ratio and a significant probability of default or financial distress.
Charles A. D'Ambrosio & Stewart D. Hodges & Richard Brealey & Stewart Myers Principles of Corporate Finance (1991)
Spain and Portugal will also default.
The Sun (2010)
The fear of defaulting tenants is also leading to renewed interest in insurance policies to cover the costs of recovering rent and any temporary loss of income.
Times, Sunday Times (2009)
Some were particularly nervous before today's auction of Lehman credit default swaps.
Times, Sunday Times (2008)
In other languages
default
British English: default VERB
to default on sth If a person, company, or country defaults on something that they have legally agreed to do, such as paying some money, they fail to do it.
The credit card business is down, and more borrowers are defaulting on loans.
American English: default
Brazilian Portuguese: inadimplir
Chinese: 不履行 >义务
European Spanish: no pagar
French: faire défaut
German: nicht nachkommen
Italian: essere inadempiente
Japanese: 債務不履行をする
Korean: 불이행하다
European Portuguese: inadimplir
Latin American Spanish: no pagar
British English: default ADJECTIVE
A default situation is what exists or happens unless someone or something changes it.
...default passwords installed on commercial machines.
American English: default
Brazilian Portuguese: padrão
Chinese: 预设的 >义务
European Spanish: por defecto
French: par défaut
German: Standard-
Italian: di default
Japanese: デフォルトの
Korean: 디폴트의
European Portuguese: padrão
Latin American Spanish: por defecto
All related terms of 'default'
by default
If something happens by default , it happens only because something else which might have prevented it or changed it has not happened.
default mode
A mode of life or behaviour is a particular way of living or behaving .
default risk
If there is a risk of something unpleasant , there is a possibility that it will happen .
default option
the preset selection of an option offered by a system, which will always be followed except when explicitly altered
in default of
If something happens in default of something else, it happens because that other thing does not happen or proves to be impossible .
credit default swap
a contract in which the parties exchange the exposure to loss should a creditor fail to make a payment when it comes due back
judgment by default
a judgment in the plaintiff's favour when the defendant fails to plead or to appear