The customer is always right; and at the level where waivers are getting signed, us mere technical mortals would be overstepping our bounds (hugely!) if we interfered at the sharp end of the business.

The best anyone can do is to make sure the customer takes responsibility for what they exactly order, which in this case someone has obviously thought of already.

Even if it were a situation where your opinion was the best one for the business, it doesn't mean it's necessarily your call or even the head of your department. It seems more likely something the legal dept. or compliance would be responsible for - perhaps it was their advice to get the waiver in the first place. And then there's the fact that mostly in practice the lowliest salesman has the main authority when it comes to someone from another dept. coming along and trying to stomp all over their deals (more so, for done deals).

Update: beware also of colleagues who try to goad you into precipitous action that will get you fired (even held responsible for defaming the organisation) and instead abide by the decision of your own manager, 'just following orders' being the best panacea for this not being your problem.