default

What is default?

default definition and meaning on Finance terms:
An event stipulated in an agreement as constituting a default. Generally, such events relate to a failure to complete a transfer of funds or securities in accordance with the terms and rules of the system in question. A failure to pay or deliver on the due date, a breach of agreement and the opening of insolvency proceedings all constitute such events. See also
failed transaction<

 

reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html

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