waiver

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waiver

1. the voluntary relinquishment, expressly or by implication, of some claim or right
2. the act or an instance of relinquishing a claim or right
3. a formal statement in writing of such relinquishment
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
References in periodicals archive ?
Throughout the month of August, teams are permitted to continue trading players, with one caveat: all players involved in the deal who are on a team's 40-man roster must first clear waivers before moving on to a new team.
At his age we didn't expect him to clear waivers, but the NHL is entering a difficult phase and has altered the threshold for sending contracted players down to the AHL.
Wojnarowski pointed out that "Anthony could have his veteran's minimum $2.4 million contract claimed on waivers, or he could clear waivers and become a free agent."