Business / Loan / Default: A failure to discharge a duty. The term is most often used to describe the occurrence of an event that cuts short the rights or remedies of one of the parties to an agreement or legal dispute, for example, the failure of the mortgagor to pay a mortgage installment, or to comply with mortgage covenants.
Default Verb Synonyms: failure, fault, defect, neglect, negligence, dereliction, lapse, oversight, non-performance, non-fulfilment, inaction
Default Noun Synonyms: non-payment, delinquency
Business / Real Estate / Notice Of Default: A notice to a defaulting party announcing that a default has occurred. The defaulting party is usually provided a grace period during which to cure the default. Notices of default are frequently provi MORE
Business / Finance / Cross-Default: Describes the volatility of returns on international investments caused by events associated with a particular country as opposed to events associated solely with a particular economic or financial ag MORE