 Releases are most often to be found in employment contracts.A waiver occurs when the creditor elects, without discussion or arrangement (and therefore, unlike release, usually without agreement), to "waive" certain claims or rights under a contract; it is, in other words, the unilateral act of abandoning a right that exists for the creditor's sole benefit.By way of example, the non-breaching party has the right, in cases of major breach, to claim cancellation, but that right may be waived.