default

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default,

n 1. an omission of that which should be done.
v 2. to fail to fulfill an obligation or a promise.
References in periodicals archive ?
0 percent of issuers defaulting in 2001 were originally rated investment grade, well below the 20-year average of 13.
In 2009, the Media industry was the worst performer with 45 issuers defaulting.
Three months of coverage is sufficient to pay for full and partial months of delivered gas to the defaulting participant until the participant's right to receive the gas is terminated and the gas is available to be remarketed on a first of the month price basis.