Waivor

A waivor is a person or entity that voluntarily relinquishes a right, claim, or privilege. This action implies a conscious decision to forego something to which one is entitled, often a legal right or entitlement, or some type of opportunity. It can involve abstaining from enforcing a condition or requirement, such as a contract clause or a rule, usually in the interest of facilitating a desired outcome or maintaining a good relationship. A waivor implies an intentional and informed act; for a waiver to be valid, it generally must be made knowingly and voluntarily.

Waivor meaning with examples

• The company’s CEO acted as a waivor, deciding not to enforce the late payment fees on their long-term client, hoping to improve the firm's business relationship. This showed the CEOs dedication to keeping good business.
• The homeowner was a waivor of his rights when he agreed to allow the construction team to start the work before a formal agreement was signed, trusting they would meet his demands.
• The bank was a waivor on the original repayment schedule, deciding to allow the homeowner more time because the homeowner was dealing with unexpected financial strain.
• The professor acted as a waivor by choosing to ignore the student's late submission of their assignment due to the student facing a family emergency and extending the due date.
• The manager acted as a waivor by granting the employee’s request for flexible hours, even though the company policy required specific shift times, to accommodate their family needs.