Default

Failure to honour the terms of an agreement.

For example a loan agreement, or an obligation under a futures contract.

See also

• Acceleration
• Credit event
• Cross default
• Default fund
• Deletion
• Event of default
• Exposure At Default
• Financial covenant
• Forbearance
• Futures
• Grace period
• Loss Given Default
• Loan agreement
• Materiality
• Non-performing loan
• Risk
• Variation margin