The default period is 1 day.

默认的周期为1天。

youdao

And we believe, when Senator Cornyn or others say we will not default, period, we will not let that happen.

WHITEHOUSE: Press Briefing

In a written statement to MPs the minister for government policy, Oliver Letwin, said there will no longer have to be a "default" 12-week period.

BBC: Cabinet office minister Oliver Letwin

The average probability that a private construction company would default in the next year was 3.79 percent for the 12-month period ended Dec. 31, compared with 5.73 percent for the year-earlier period.

FORBES: Private-company credit risk shows signs of improving