default

Noun

• an option that is selected automatically unless an alternative is specified

• loss resulting from failure of a debt to be paid

• act of failing to meet a financial obligation

• loss due to not showing up
  • he lost the game by default
    

Verb

• fail to pay up

Related words

• Synonyms: 
  default option , nonpayment , nonremittal , default on
• Antonyms: 
  payment , pay up , ante up , pay