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If no team claims a player off waivers after three business days, the player has cleared waivers and may be assigned to a minor league team, traded (to any team), or released outright.

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Used to describe a process by which a player is removed from a team and is made available to be chosen by other teams. He was placed on waivers.

Waiver Overview Waivers process daily sometime between 3 am to 5am ET. Once that time has passed, they either clear waivers, meaning no one has claimed them, or they enter the free-agent pool. The unclaimed players can now be acquired on a first-come, first-serve basis, without affecting your team's waiver position.

If no team waives a claim on the player then they are said to have ?cleared waivers?. This means that no other teams tried to acquire you while on waivers and the player is a ?free agent.?

When you sign a waiver, you're voluntarily giving up a privilege or legal right. A waiver is often required before you participate in something dangerous. If you decide to go skydiving, you might have to sign a waiver agreeing that you won't sue the skydiving company if you get injured.

A waiver refers to an intentional and voluntary act of relinquishing or abandoning a right, privilege, claim, or legal benefit, often in a written statement. In terms of insurance, a waiver has many applications, such as provisions waiving coinsurance in property insurance or premiums in life insurance.