Rolling waiver priority
Claims are processed in priority order. A successful claim may move that team to the bottom of the priority list depending on the league rules.
FAAB
Free Agent Acquisition Budget gives each team a defined budget for blind waiver bids. The highest valid bid wins under the league's published tiebreak rules.
Waiver periods
A waiver period determines how long a player remains on waivers before claims process or the player becomes a free agent.
Free agency
After waivers clear, eligible players may become available for immediate pickup until the next lock or waiver cycle.
Commissioner controls
Paid Commissioner leagues may support additional waiver timing, FAAB and free-agent settings. The league's configured rules control.