Definition, Meaning & Synonyms
defaulting
verb
/dɪˈfɔːltɪŋ/
Definition
Failing to fulfill a financial obligation or not meeting a requirement.
Examples
- After several missed payments, the borrower faced the risk of defaulting on their loan.
- The company is defaulting on its bonds, leading to serious financial consequences.
- Defaulting on a contract can result in legal actions.
Meaning
Defaulting usually refers to the failure to repay a loan or to meet a contractual obligation.
Synonyms
- Failing
- Neglecting
- Non-compliance
- Default
