/dɛkləˈreɪʃən ʌv dɪˈfɔlt/ – noun
Definition: Thông báo vi phạm.
A more thorough explanation: a formal statement from a creditor (=someone owed money) that the debtor (=person owing money) has not done something they are obligated to do, suc as making payment
Example: Courts generally require that the declaration of default be made in terms that are clear and direct.