posted on Aug, 31 2003 @ 10:14 PM
"A team may make trades without waivers from 5pm Eastern time, the day after the scheduled end of the season through July 31st. Waivers are necessary
to make trades from August 1st through 5pm Eastern Time, the day after the scheduled end of the regular season. "
A waiver on a Major League Player is defined as "...a permission granted for certain assignments of player contracts or for the unconditional release
of a Major League player..."
A Major League Player placed on waivers will have "cleared waivers" if after three business days following waivers have been requested he has not been
claimed by another team. If a player "clears waivers", the team has secured waivers on that player for the rest of the waiver period.
A team can do one of three things with a player once he has cleared waivers. They can send him to the minors, for veteran players with the consent of
the player, they can release him, making him available to other teams, or they can trade him to another team, regardless of whether or not the trading
deadline has passed. In order for a team to trade a player past the July 31st trading deadline, he must have first cleared waivers.