Fail

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Fail

A deal is said to fail if on the settlement date either the seller does not deliver securities in proper form or the buyer does not to deliver funds in proper form.

Fail

fail

Of or relating to a trade in which the seller does not deliver securities or the buyer does not deliver funds in the prescribed manner at the prescribed time, usually on the settlement date. Compare clear.
References in classic literature ?
She attempted confusedly to take her handkerchief from her apron pocket, and failed to find it.
If he had been twenty years younger, those remedies might have failed him.
Daylight failed to hoist him, for the body collapsed at the middle like a part-empty sack of corn.
After all, he was a little earth-maggot, just like all the other earth-maggots, like the squirrel he had eaten, like the other men he had seen fail and die, like Joe Hines and Henry Finn, who had already failed and were surely dead, like Elijah lying there uncaring, with his skinned face, in the bottom of the boat.
In plain English," retorted the vicar, "you are conceited enough to think that you can succeed where the greatest lawyers in Scotland have failed.
Because he had been accused of a crime that he had never committed, and because a Scotch jury had failed to see that he was an innocent man.
He said he knew he had failed in history and he was born to be a disappointment to his parents and he was going home on the morning train; and it would be easier to be a carpenter than a minister, anyhow.
Moody Spurgeon still thinks he failed in history and Charlie says he failed in algebra.
ABSORBED in herself, Mercy failed to notice the opening door or to hear the murmur of voices in the conservatory.
Keenly as she felt this, Mercy failed, nevertheless, to conquer the horror that shook her when she thought of the impending avowal.
In others, they had forwarded drafts on firms which had failed already, or which were about to fail, in the crisis.
So you have failed, Countess," her host said, knitting his grey brows at her.