waiver

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Waiver

A statement of the voluntary surrender of a right. For example, suppose a company provides customers a service that might be dangerous, such as bungee jumping. The company may require customers to sign a waiver relinquishing the right to sue the company for negligence if a problem occurs. This reduces the company's risk in the conduct of its business.

waiver

The voluntary relinquishment of a known right, remedy, claim, or privilege.
References in periodicals archive ?
Players who clear waivers can be traded through Aug.
Both he and Paul Byrd, the Sox's other August acquisition, had to clear waivers for Boston to trade for them.
If a player doesn't sign, he must clear waivers before being released by the CFL.
But the thought he could actually clear waivers is another indication of just how far he has fallen since beginning the 2003 season by going 10-4 with a 2.