Which of the following is a characteristic of termination for default?

Termination for default is a significant aspect of contract management, particularly concerning a contractor's performance. The characteristic that this type of termination is based on performance issues is crucial because it indicates that the decision to terminate does not stem from external factors or mutual disagreements but rather from the contractor's inability to meet the specified terms, conditions, and performance standards of the contract.

When a contracting authority opts for termination for default, it is usually due to the contractor failing to deliver the expected results, such as failing to meet deadlines, delivering substandard work, or otherwise breaching the contract's performance expectations. This action is often seen as a protective measure for the government to ensure accountability and to mitigate risks associated with unfulfilled contract requirements.

The other aspects related to termination for default, such as mutual agreement, contractor failings, or notice requirements, are not typically relevant in this context, as termination for default is generally initiated unilaterally by the government entity due to the contractor's shortcomings. Thus, option B effectively captures the essence of what termination for default entails.