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Waiver Of Demand

What is 'Waiver Of Demand'

An agreement by the party that has endorsed a check or draft to accept legal responsibility, without being formally notified, should the original issuer of the check or draft default. The waiver of demand may be express or implied; it may also be oral or written unless oral waivers are specifically prohibited by law.

Explaining 'Waiver Of Demand'

The term also refers to a bank's waiver of its right to formal notification when it presents short-term negotiable debt instruments such as drafts or banker's acceptances to a Federal Reserve bank for rediscounting. In such instances, the Federal Reserve considers the bank's endorsement as a "waiver of demand, notice and protest" if the original issuer defaults on its debt obligation.


Further Reading


Creditors' decisions to waive violations of accounting-based debt covenants
www.jstor.org [PDF]
… where P(waiver) is the probability that the creditor will waive a covenant … and 3s>o. The logit models were estimated with a binomial classification of the dependent variable; that is, the violated debt covenants of the sample firms are classified as either waived or nonwaived …

Agreements to waive or to arbitrate legal claims: an economic analysisAgreements to waive or to arbitrate legal claims: an economic analysis
www.journals.uchicago.edu [PDF]
… where P(waiver) is the probability that the creditor will waive a covenant … and 3s>o. The logit models were estimated with a binomial classification of the dependent variable; that is, the violated debt covenants of the sample firms are classified as either waived or nonwaived …

Do Medicaid home and community based service waivers save money?Do Medicaid home and community based service waivers save money?
www.tandfonline.com [PDF]
… where P(waiver) is the probability that the creditor will waive a covenant … and 3s>o. The logit models were estimated with a binomial classification of the dependent variable; that is, the violated debt covenants of the sample firms are classified as either waived or nonwaived …

The role of United States Visa Waiver Program on cross-border travelThe role of United States Visa Waiver Program on cross-border travel
www.tandfonline.com [PDF]
… where P(waiver) is the probability that the creditor will waive a covenant … and 3s>o. The logit models were estimated with a binomial classification of the dependent variable; that is, the violated debt covenants of the sample firms are classified as either waived or nonwaived …

Contracting out of the fiduciary duty of loyalty: An empirical analysis of corporate opportunity waiversContracting out of the fiduciary duty of loyalty: An empirical analysis of corporate opportunity waivers
heinonline.org [PDF]
… where P(waiver) is the probability that the creditor will waive a covenant … and 3s>o. The logit models were estimated with a binomial classification of the dependent variable; that is, the violated debt covenants of the sample firms are classified as either waived or nonwaived …

Waivers, federalism, and the rule of lawWaivers, federalism, and the rule of law
www.tandfonline.com [PDF]
… where P(waiver) is the probability that the creditor will waive a covenant … and 3s>o. The logit models were estimated with a binomial classification of the dependent variable; that is, the violated debt covenants of the sample firms are classified as either waived or nonwaived …

Class waivers to the non-manufacturer rule: Effects on small business utilization in public procurementClass waivers to the non-manufacturer rule: Effects on small business utilization in public procurement
www.tandfonline.com [PDF]
… where P(waiver) is the probability that the creditor will waive a covenant … and 3s>o. The logit models were estimated with a binomial classification of the dependent variable; that is, the violated debt covenants of the sample firms are classified as either waived or nonwaived …



Q&A About Waiver Of Demand


Can you give examples for each type?

Express waivers are when parties agree in writing to assume liability for checks and drafts if they are not presented within a certain amount of time. Implied waivers are when parties do not specify how long after issuing a check or draft that it can be presented without penalty but still expect it to be honored at any point in time.

Are oral waivers prohibited by law?

Oral waivers are prohibited by law in some states such as California.

What is a waiver of demand?

A waiver of demand is an agreement by the party that has endorsed a check or draft to accept legal responsibility, without being formally notified, should the original issuer of the check or draft default.

Is there an express or implied waiver of demand?

There is both an express and implied waiver of demand.

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