fail to deliver(redirected from Open Fails)
Fail to Deliver
A situation in which a buyer, or, more commonly, his/her broker does not receive delivery of the securities he/she bought by the settlement date. A fail to deliver occurs because of the negligence or deliberate withholding on the part of the seller. If a buyer does not receive the securities, he/she is not obligated to make payment until delivery is made. See also: Aged fail.
fail to deliver
Used to refer to the nondelivery of securities from a selling broker to a buying broker by the settlement date.