<P> Waivers are a National Football League (NFL) labor management procedure by which a team makes an American football player contract or NFL rights (such as NFL draft rights to an unsigned player) available to all other teams . During the season (starting July 4 and lasting through the regular season), each team has 24 hours to file a claim for a player that another team has made available through the system or waive the right to do so . During the off season each team has several days to file such claims . Claiming teams are assigned the rights to or contracts via a priority system based on inverse order of record . Players that pass through waivers unclaimed become free agents . Waiver claims are irrevocable . </P> <P> As of 2008, according to the NFL collective bargaining agreement, if any waiver of a veteran player who has completed the season that gives him four years of service occurs between February 1 and the trading deadline in mid October, then that player shall be considered an unrestricted free agent by termination of his contract . </P>

What does it mean to be placed on waivers nfl
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