Meaning of Default

What is Default:

The word default is of English origin, which in Spanish means "lack, carelessness, negligence, or omission."

In general, the term default in the financial or economic sphere, means “default of payments”, this means that a person, or entity, defaulted on the payment of the debt, either due to lack of liquidity, or due to lack of liquidity. unwillingness.

In the legal context, default refers to the violation of any clause established in the contract, by the creditor or debtor, which leads to an analysis of the conditions of the contract in case of non-compliance to proceed with the relevant actions.

For its part, in computing, default designates an option, value or action automatically designated by the computer system, given that the user did not make its specifications, such as: font, font size, font color, among others.

On the other hand, default gateway¸ or gateway, is the device that allows two different networks to be joined, allowing users of one network to access another.

Sovereign default

The sovereign default refers to all governments that incurred in default.

In this sense, the default of an individual with respect to a State can be compared, since the individual at the time of default on his debt, his assets are seized according to the amount of debt, on the other hand a State can escape all responsibility without consequences.

With respect to the above, the only thing it generates is mistrust, such as the default in Greece, and mistrust of the euro.

Technical default

The technical default is the breach of an agreement established before the loan. For instance; the lack of payment for the maintenance of the building, taxes, among others.

Tags:  Sayings And Proverbs Technology-E-Innovation Expressions-In-English