Define: Default

UK Accounting Glossary

Definition: Default

Quick Summary of Default

Failure to meet obligations as they fall due for payment.

What is the dictionary definition of Default?

Dictionary Definition

  1. finance The condition of failing to meet an obligation.
  2. electronics, computing the original software programming settings as set by the factory
  3. A loss incurred by failing to compete.


Full Definition of Default


Default FAQ's

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Default. Payroll & Accounting Heaven Ltd. November 20, 2019
Chicago Manual of Style (CMS):
Default. Payroll & Accounting Heaven Ltd. (accessed: November 20, 2019).
American Psychological Association (APA):
Default. Retrieved November 20, 2019, from website:

Definition Sources

Definitions for Default are sourced/syndicated from:

This glossary post was last updated: 23rd December 2018.