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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>86883</law_id><section_number>8.9A-624</section_number><catch_line>Waiver</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>55.1-1305</reference><reference>8.9A-602</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="8.9A">Commercial Code &#x2014; Secured Transactions</unit><unit label="part" level="2" order_by="1" identifier="6">Default</unit><unit label="subpart" level="3" order_by="1" identifier="1">Default and Enforcement of Security Interest</unit></structure><text>
						<section id="a"><p><span class="prefix-number">a.</span> <span class="dictionary">Waiver</span> of <span class="dictionary">disposition</span> notification. A debtor or secondary obligor may <span class="dictionary">waive</span> the right to notification of <span class="dictionary">disposition</span> of <span class="dictionary">collateral</span> under &#xA7; <a class="law" title="Notification before disposition of collateral" href="/8.9A-611/">8.9A-611</a> only by an agreement to that effect entered into and signed after <span class="dictionary">default</span>. <a id="paragraph-311078" class="section-permalink" href="https://vacode.org/8.9A-624/#a"><i class="fa fa-link"/></a></p></section>
						<section id="b"><p><span class="prefix-number">b.</span> <span class="dictionary">Waiver</span> of mandatory <span class="dictionary">disposition</span>. A debtor may <span class="dictionary">waive</span> the right to require <span class="dictionary">disposition</span> of <span class="dictionary">collateral</span> under &#xA7; <a class="law" title="Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral" href="/8.9A-620/">8.9A-620</a> (e) only by an agreement to that effect entered into and signed after <span class="dictionary">default</span>. <a id="paragraph-311079" class="section-permalink" href="https://vacode.org/8.9A-624/#b"><i class="fa fa-link"/></a></p></section>
						<section id="c"><p><span class="prefix-number">c.</span> <span class="dictionary">Waiver</span> of <span class="dictionary">redemption</span> right. Except in a consumer-goods transaction, a debtor or secondary obligor may <span class="dictionary">waive</span> the right to redeem <span class="dictionary">collateral</span> under &#xA7; <a class="law" title="Right to redeem collateral" href="/8.9A-623/">8.9A-623</a> only by an agreement to that effect entered into and signed after <span class="dictionary">default</span>. <a id="paragraph-311080" class="section-permalink" href="https://vacode.org/8.9A-624/#c"><i class="fa fa-link"/></a></p></section></text><history>Code 1950, &#xA7; 55-93; 1964, c. 219, &#xA7;&#xA7; 8.9-504, 8.9-505, 8.9-506; 1964, c. 410, &#xA7; 8.9-505; 1973, c. 509, &#xA7;&#xA7; 8.9-504, 8.9-505; 2000, c. 1007; 2024, c. 652.</history><metadata></metadata></law>
