has defaulted

USAGE SUMMARY

The phrase "has defaulted" is correct and usable in written English.
It is typically used in financial contexts to indicate that a borrower has failed to meet the obligations of a loan or debt agreement. Example: "The company has defaulted on its loan payments, leading to potential legal action from the creditors."

✓ Grammatically correct

News & Media

Academia

Science

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

No state has defaulted since 1933.

The Economist

This doesn't mean that Greece has defaulted.

The Guardian

The foundation says no group of borrowers has defaulted.

The New York Times

For another, they say, he has defaulted on the mortgage.

The New York Times

Of the 15 loans made so far, none has defaulted.

The New York Times

This is because the user's FTP has defaulted to extended passive mode for the file transfer.

Harvard University

Germany "doesn't want its banking sector to go under because Greece has defaulted," he said.

The New York Times

It has defaulted on its foreign debt and endured deadly riots.

The New Yorker

Many of their assets are in bonds on which the government has defaulted.

The Economist

It has defaulted again and again for nearly two centuries, with few apologies.

The New York Times

Twice in the past quarter-century Ecuador has defaulted on its debts.

The Economist

Expert writing Tips

Best practice

When discussing financial matters, use "has defaulted" to clearly indicate a failure to meet debt obligations. Be specific about what the entity has defaulted on, such as "loans", "bonds", or "payments".

Common error

Avoid using "has defaulted" when there is merely a temporary delay in payment or a renegotiation of terms. Default implies a more serious and potentially irreversible breach of financial obligations.

Linguistic Context

The phrase "has defaulted" primarily functions as a verb phrase indicating a completed action of failing to meet a financial obligation. It conveys that an entity has not fulfilled the terms of an agreement, particularly concerning debt repayment, as supported by Ludwig.

Expression frequency: Very common

Frequent in

News & Media

78%

Academia

12%

Science

10%

Less common in

Formal & Business

0%

Encyclopedias

0%

Wiki

0%

Ludwig's WRAP-UP

In summary, the phrase "has defaulted" is a grammatically correct and frequently used verb phrase primarily employed to indicate a failure to meet financial obligations. Ludwig AI confirms its standard usage, particularly in financial reporting and academic discussions. It’s crucial to distinguish between a default and a temporary payment delay. Alternatives include phrases like "is in default" or "failed to pay". The phrase is most commonly found in news media and academic contexts, highlighting its relevance in discussing economic and financial matters.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

is in default

Emphasizes the state of being in default rather than the action of defaulting.

failed to pay

Focuses specifically on the failure to make a payment.

reneged on obligations

Highlights the act of going back on a commitment or promise.

defaulted on obligations

Focuses on failing to fulfill specific duties or responsibilities.

became delinquent

Describes a state of being behind on payments or duties.

failed to honor

Emphasizes the disregard of an agreement or commitment.

is non-compliant

Highlights a failure to adhere to rules or regulations.

breached the agreement

Indicates a violation of a formal agreement or contract.

is insolvent

Describes the inability to pay debts, often leading to default.

liquidated assets

Implies a winding-up of assets, potentially due to financial distress leading to default.

FAQs

What does it mean when something "has defaulted"?

It means that an entity has failed to meet its financial obligations, such as repaying a loan or bond, according to the agreed-upon terms.

What are some alternatives to saying "has defaulted"?

You can use alternatives such as "is in default", "failed to pay", or "reneged on obligations" depending on the context.

What are the consequences when a country "has defaulted" on its debt?

Consequences can include a damaged credit rating, difficulty borrowing money in the future, economic instability, and potential legal action from creditors.

Is there a difference between "has defaulted" and "is in arrears"?

"Is in arrears" typically implies a temporary delay in payments, while "has defaulted" suggests a more serious and potentially irreversible failure to meet obligations.