default

(redirected from defaulted)
Also found in: Dictionary, Thesaurus, Legal, Financial, Idioms.

default

1. a failure to act, esp a failure to meet a financial obligation or to appear in a court of law at a time specified
2. judgment by default Law a judgment in the plaintiff's favour when the defendant fails to plead or to appear
3. Computing
a. the preset selection of an option offered by a system, which will always be followed except when explicitly altered
b. (as modifier): default setting

default

[di′fȯlt]
(computer science)
A value automatically used or an action automatically carried out unless another is specified.

default

A substantive failure to fulfill a material obligation under a building contract.

default

The pre-set value or action taken by software. Application programs have many defaults, including margin settings, font style, the printer that should be used and the folder name for saving files. Although pre-determined by the vendor, a default setting can be changed by the user (see settings).

Because a particular setting may affect how the hardware operates, there are also "hardware defaults." However, unless there are physical switches or levers on the equipment, the hardware default setting is configured in the software.

Default is also a verb. For example, "the program defaults to xyz," means that the program does xyz unless directed otherwise. See default browser, default folder, default drive, default font and default gateway.
References in periodicals archive ?
Last year, the Bureau sent student loan servicers a voluntary information request seeking new information on how previously defaulted borrowers perform over time.
Workers are not so much affected if a significant fraction of their tax refund is defaulted into U.S.
When a debtor-friendly policymaker is in office, the spread charged by lenders for these issuance volumes goes to infinity because a debtor-friendly government would choose to default on these volumes (this is the case when the recovery rate on defaulted debt is zero, as in Hatchondo, Martinez, and Sapriza [2009]).
Time-varying recovery rates, obtained from Moody's (2005) database, have been used here and are defined as the ratio of the defaulted bond's market price observed 30 days after its default date to its face value (par) for all bonds.
A number of Russian banks with large market risk exposure and weak liquidity management defaulted shortly after the Lehman failure in September 2008.
In 2004, 1.4 percent of the school's loans were defaulted. In 2003, that number was 1.5 percent.
But for public community colleges, 5.8 percent of students defaulted in fiscal year 2003; however, that default rate slid in recent years from 7.2 percent in 2001 and 6.7 percent in 2002.
[COMPASS.sup.CRE] is calibrated using an extensive, proprietary database sample of defaulted and non-defaulted loans, and measures probability of default, loss given default, and expected loss for a loan, portfolio, or securitized pool.
The government is currently trying to collect about $31 billion in defaulted loans, according to the Department of Education.
According to Reuters, Buenos Aires wanted to "concentrate on reaching an agreement with private creditors on $100 billion in debt on which it defaulted in January 2002."
However, both FFELP and FDLP borrowers who had defaulted prior to consolidation were more likely to default on their consolidation loan than those who did not default prior to consolidation.
This study includes a total of $26.42 billion of the speculative-grade bonds that defaulted over the 13-year period of 1982 through 1994.