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 ?
Any taxpayer that previously elected to waive the NOL carryback period for any tax year ending in 2001 or 2002 may revoke this election and apply the new five-year carryback period by following the procedures described below by Oct.
Rowe Price (800-638-5660) waives minimum initial investment requirements for participants in the Automatic Asset Builder Plan.
The FTB could not waive penalties imposed on an assessment of taxes that became due or payable before Dec.
Taxpayers may be required to waive the privileges for the tax advice that is disclosed to the auditors, and also for all other tax advice on the same subject.
The court focused on the generality of the architect's contractual mandate in making the rather tenuous argument that the architect could not bind the owner where there was no contractual provision that specifically granted the architect the authority to waive a violation of the general contract on behalf of the owner.
"The government of India has decided to waive the security bill charged by the ITBP for guarding Kasab," said Union home minister Sushilkumar Shinde during his visit to Arthur Road jail on Saturday.
6724(a) to waive penalties when brokers and dealers attempt in good faith to comply with the Secs.
612, 1979), the court considered whether the taxpayer intended to waive the right of privilege and the precautions taken to prevent disclosure.
Continuing his tirade against the Prime Minister, Rahul said that Prime Minister Modi talks about farmers in every meeting but does not waive off farm loans.
SUTTON - Selectmen have agreed to waive building and zoning fees for the Wilkinsonville Water District, which plans to build two wells that will eventually supply water to proposed retail developments along Route 146.
However, married plan participants can waive the survivor annuity, but only if the spouse consents to the waiver.