Waiver

Definition of Waiver

A waiver is a written document that serves as an official acknowledgement of an individual’s decision to decline or waive something. This can range from declining optional services, such as travel insurance for a trip, to waiving or dismissing a mandatory requirement or penalty.

In the context of travel, a waiver may be used when a passenger decides not to purchase insurance coverage for their journey. By signing the waiver, the passenger acknowledges that they understand the risks involved in traveling without insurance and have chosen to decline coverage.

Similarly, a waiver of a penalty for a late booking or missed payment may be granted if certain conditions are met. This formal acknowledgement releases the individual from the imposed penalty and constitutes a mutual agreement between the parties involved.

In summary, a waiver is a legal document that provides written confirmation of a person’s decision to waive or decline something. It is an important tool for ensuring mutual agreement and clarity in various situations, including travel and business.