default

(noun) loss due to not showing up. Example: "He lost the game by default."

(noun) act of failing to meet a financial obligation. Synonyms: nonpayment, nonremittal.

(noun) loss resulting from failure of a debt to be paid. Synonyms: nonpayment, nonremittal.

(noun) an option that is selected automatically unless an alternative is specified. Synonyms: default option.

(verb) fail to pay up. Synonyms: default on.