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 ?
He is out of minor-league options, and he has enough power potential he likely wouldn't clear waivers if the club tried to send him to the minors.
Both he and Paul Byrd, the Sox's other August acquisition, had to clear waivers for Boston to trade for them.
The most plausible scenario is that Cruz will clear waivers, be released and become a free agent, with the Dodgers eating the remainder of his one-year, $3.
If a player doesn't sign, he must clear waivers before being released by the CFL.