Translation

債務不履行 / 不履行 / 初期設定

Meaning

Default is failure to pay a debt or fulfill a formal obligation. As a verb, default means to fail in that obligation. The learner trap is assuming default always means a normal setting; in finance or law, it can mean a serious breach.

Examples

• 会社は銀行融資の返済で債務不履行に陥りました。
  The company defaulted on its bank loan.
• 契約には、不履行の場合の罰則が定められています。
  The contract sets penalties for default.