default Definition

default

Definition

Failure to make required debt payments on a timely basis or to comply with other conditions of an obligation or agreement.

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default is ...
... part of the Lending & Credit subject.

Related Terms

collateral - More

credit risk - More

cure period -

foreclosure, mortgage insurance, Notice of Default, recourse loan, secured bond, accrued interest, assignment of rents, corporate bond, counterparty risk, country risk and

default appears in the definitions of these other terms on BusinessDictionary.com

cross-collateral clause, cross-default clause, credit derivative (CD), default judgment, letter of hypothecation, and

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