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  2. The phrase "waived off" is correct and usable in written English. It is usually used to indicate that something has been rejected or dismissed, especially with reluctance. For example, "The mayor reluctantly waived off the proposal to build a new stadium.".
    1 to set aside or relinquish to waive one's right to something 2 to refrain from enforcing or applying (a law, penalty, etc.) 3 to defer
    dictionary.reverso.net/english-definition/waive+off
    Waived-off: When a lender waives off a bad debt, they are forgiving the debt and essentially absolving the borrower of any responsibility to repay it. However, the debt still remains on the books and shows up as an outstanding balance.
    www.indifi.com/blog/difference-between-write-off-a…
    In loan waive-off, the borrower is technically exempted from that repayment. It means there is no chance of recovering a loan from the borrower by the lender or bank. It basically refers to the process of releasing the borrower from the burden of loan repayment and no recovery will be made by the lender.
    moneyview.in/loan-insights/difference-between-writ…
     
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