A "contractual waiver" means that someone is giving up certain rights or protections that are included in a contract. They agree to not hold the other party accountable for certain things that may happen. Full definition
* A net expense ratio lower than the gross expense ratio may reflect a cap on or contractual waiver of fund expenses. (schwabfunds.com)
To remedy this problem, teachers pursued contractual waivers that required staff to spend more time on site planning with peers and offering additional support to students. (e4e.org)
Net annual operating expenses reflect contractual waivers and / or expense limitations. (nylinvestments.com)