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The phrase "a default occurs" is correct and usable in written English.
It can be used in contexts related to finance, technology, or legal matters, typically referring to a failure to fulfill an obligation or meet a requirement.
Example: "If a default occurs on the loan, the lender has the right to take legal action to recover the owed amount."
Alternatives: "a failure happens" or "a breach takes place".
Exact(14)
A default occurs when a country (or company) can't make a debt payment.
Swap arrangements made by other insurers require payments only if a default occurs.
But because each contract must be settled between buyer and seller if a default occurs, this imbalance can present a problem.
If a default occurs, the party providing the credit protection — the seller — must make the buyer whole on the amount of insurance bought.
If a default occurs, the seller (the party providing the credit protection) must make the buyer (the party receiving the protection) whole on the amount of insurance purchased.
Those sorts of derivatives pay out money over time, whereas derivatives tied to a country's debt pay out on one occasion: if a default occurs.
Similar(41)
For most purposes, determining whether a default occurred in a country's debt falls to ratings agencies like Fitch and Moody's.
The prices for credit default swaps, financial instruments that pay investors in the event that a default happens, imply just a 0.05 percent chance, or 1-in-2,000, of a default occurring within the next year, according to The Wall Street Journal.
Second, he could pledge that, if worse came to worst, he would, once a default occurred, use his emergency powers to end it and save the nation and the world from catastrophe.
Should a default occur, the LLC can begin proceedings to enforce the trust deed.
It's still very early, "and investors need to remember that there are a lot of bullets before a default occur".
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com