FAIL

By SovConn | May 12, 2015

fail,n. A transaction between securities brokers in which delivery and payment do not occur at

the prescribed time, usu. on the settlement date. — Also termed fail contract.

fail to deliver.The nondelivery of securities from a selling broker to a buying broker by the

settlement date.

fail to receive.The failure of a buying broker to receive delivery of securities from the selling

broker by the settlement date.

fail,vb. 1. To be deficient or unsuccessful; to fall short <they failed to settle the dispute>.2. To

become insolvent or bankrupt <two banks failed last week>.3. To lapse <the bequest failed as a

result of ademption>.[Blacks Law 8th]