default

/dɪˈfɔlt/

fail to pay up

Chinese meaning: 违约；拖欠

If the borrower defaults on the loan, the bank can seize the collateral.

如果借款人拖欠贷款，银行可以没收抵押品。

The company defaulted on its bond payments, causing a sharp drop in its stock price.

该公司拖欠债券付款，导致其股价暴跌。