Definition and Example. Imagine that you are walking along the sidewalk of a busy road with a group of friends. It's a hot, humid, and sunny day. Everyone is wearing shorts and loose clothing to battle the heat. You look to your left and see a man in a long fur coat and a tall pair of winter boots.
A waiver is the voluntary relinquishment or surrender of some known right or privilege. Regulatory agencies or governments may issue waivers to exempt companies from certain regulations. For example, a United States law restricted the size of banks, but when banks exceeded these sizes, they obtained waivers.
1 The employer retains a copy of the meal waiver for six months after the employee separates from employment. 2  The employee has an opportunity to consume food during shifts of six hours or longer. 3  The employee is paid for any meal period in which the employee is not relieved of all duty.