default

C1 · Advanced Uncountable noun Finance Formal

n. the failure to pay back a loan or do what you legally agreed to do.

n. the failure to fulfill a legal or financial obligation, such as repaying a loan or appearing in a court of law.

“The company is in default because they missed three months of loan payments.”

“The sovereign default sent shockwaves through the international markets, leading to a sharp increase in borrowing costs for neighboring economies.”

C1 · Advanced Finance Formal

v. to fail to pay a debt or fulfill an agreement.

v. to fail to satisfy a debt or meet the terms of a contract. Intransitive, often taking the preposition 'on'.

“If you default on your mortgage, the bank might take your house.”

“Small businesses are more likely to default on their credit lines during a sudden economic downturn when cash flow becomes unpredictable.”

B2 · Upper Intermediate Computing

v. to automatically go back to a standard setting.

v. to revert automatically to a preselected option or setting when no other instruction is given.

“The screen brightness will default to fifty percent when the battery is low.”

“The system is programmed to default to the secure server if the primary connection is interrupted for more than ten seconds.”

B2 · Upper Intermediate

adj. used to describe something that happens or is chosen automatically.

adj. functioning as the preset or automatic selection in the absence of a specific alternative.

“Checking your phone has become the default behavior for people waiting in line.”

“In many modern offices, the default assumption is that meetings will be held virtually unless a physical room is specifically requested.”