"financial default" is correct and usable in written English.
You can use it when referring to a situation in which an individual or organization has failed to pay a loan or debt or to meet some other financial obligation. For example: "The company is facing financial default due to their inability to pay back the loan."
His city was in financial default -- the embarrassment of the nation.
Over the last three weeks, House Republicans engineered a budget fight that led to a government shutdown and threatened a financial default.
Detroit might not be doing so well – it was placed this month under the control of an emergency manager as it tries to stave off financial default.
Syriza's negotiations with creditors across Europe had been fraught from the outset, giving rise to persistent fears of a Greek financial default.
Effective for any policies written on Oct. 5 or after, there is a moratorium on coverage for financial default right now, said Claudia Fullerton, chief marketing officer for C.S.A. Travel Protection, of San Diego.
If you wait too long, coverage for pre-existing medical conditions and protection against the financial default of a tour operator, airline or cruise company may no longer be offered.
Swift's miscalculation has made his company, Swift Energy, a casualty of the greatest wave of financial defaults since America's subprime mortgage crisis ravaged the U.S. economy.
AI systems can sift through vast amounts of data to spot potential risks, be they financial defaults, revenue shortfalls or supplier issues.
On the second point, Nomura compares Greece to Lehman Brothers, in that the refusal of U.S. authorities to bail out the investment bank raised the risk of more financial defaults, just as a Greek credit event would raise the risk of more credit events in Europe.
A policy from a reliable, independent travel insurance company should include a financial-default clause that protects you if fiscal problems at an airline, cruise or tour operator cause "a complete cessation of services". Look for that clause.
This is not an aggressive estimate; after the ResCap bankruptcy talk took hold, spreads on Ally Financial credit default swaps increased by one percentage point.
