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• n  loss due to not showing up
  he lost the game by default
• n  act of failing to meet a financial obligation
• n  loss resulting from failure of a debt to be paid
• n  an option that is selected automatically unless an alternative is specified
• v  fail to pay up

• The Senate's most prized prerogative is going by default.
• Fallout from a record default spreads from Washington State to Wall Street.
• They provide insurance for losses on securities in the event of a default.

• nonpayment
• nonremittal
• default option
• default on

• payment
• pay_up

News & Articles

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• Codere Default Riddle Skewing Cost of Hedging Europe’s Junk Debt
  Codere SA’s struggle to sidestep default is skewing a benchmark derivatives index, with a surge in credit-default swaps on the Spanish gaming company pushing up the cost of insuring high-yield debt.
  June 12, 2013 - Bloomberg
• Asia-Pacific Bond Risk Little Changed, Credit-Default Swaps Show
  The cost of insuring Asia-Pacific corporate and sovereign bonds from default was little changed, according to traders of credit-default swaps.
  June 12, 2013 - Bloomberg
• Bond Risk Increases in Asia, Credit-Default Swap Prices Show
  The cost of insuring corporate and sovereign bonds in Asia against non-payment rose, according to traders of credit-default swaps.
  June 11, 2013 - Bloomberg