Waiver
A legally binding provision where either party in a contract agrees to voluntarily forfeit a claim without the other party being liable.
A waiver is a voluntary relinquishment of a right or claim, often used to settle disputes or finalize agreements. In construction, waivers can release parties from certain liabilities or claims, ensuring that resolved issues do not re-emerge, but they require clear documentation to avoid misunderstandings.
Used in a sentence
The contractor signed a waiver relinquishing any future claims related to the change order.
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