Default Event

From Open Risk Manual


Default Event is a legal condition that follows from a borrower (or counterparty) to a financial contract not honoring their obligations. It is a Credit Event representing a failure to meet a contractual obligation, such as, but not limited to, failure to pay


This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with or correctly interprets the concepts covered by the FIBO ontology.

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