default
noun [ C or U ]
uk/dɪˈfɔːlt/ us FINANCE
the fact of not paying interest or other money that is owed on time:
Many experts say a default would raise interest rates in the future because the government would be seen as a higher-risk borrower.
Any default on the interest payments will have serious consequences.
Creditors are frequently obliged to terminate the consumer credit agreement because the debtor is in default.
LAW
the fact of not keeping to an agreement or contract:
There will be a joint government review of the agreement if there is any default.
IT
the way that something will happen or appear automatically, especially on a computer, if you do not make any different choices:
Checking this box means that your computer will now use this printer as the default.
The default is to provide a statement monthly.
This is the default setting, but you can change it by going to the Options menu.
We recommend using the defaults that are already set.
by default
happening or done because no formal choice or decision has been made:
The fear was that unless IAS was adopted, US accounting principles would become the world standard by default.
default
verb [ I ]
uk/dɪˈfɔːlt/ us FINANCE
to fail to pay interest or other money that is owed:
default on a payment/a mortgage/your rent If a company defaults on its rent, another tenant can be found.
I have never defaulted or been late with previous payments.
LAW
to fail to keep to an agreement or contract:
default on an agreement/a contract They claimed that education providers had defaulted on their agreement with students to provide a course.
IT
to happen or appear automatically in a particular way, if a user does not make a different choice:
If you do not enter a value it will default to a delay of 20 seconds.