A situation where a buying DEALER has not received securities from the selling dealer, and will thus not make its payment. Fails are commonly used as a measure of operations-based PROCESS RISK. See also AGED FAIL, FAIL TO DELIVER.
Link to This DefinitionDid you find this definition of FAIL TO RECEIVE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary