A 'waiver' in the context of a contract generally refers to:

Giải thích

A waiver is the voluntary, intentional giving up of a known right under the contract, for example, when a party consistently accepts late payments and thereby relinquishes the right to object to lateness. A waiver can arise expressly or by conduct. It is not itself a new contract, not a court order, and not an arbitration procedure; it simply means a party has chosen to forgo enforcing a particular right it possessed.