The league will hold a waiver draft every season after the pre-season schedule is complete and before the regular season begins.
Each SICHL team will be allowed to protect 18 skaters and 2 goaltenders. Players 25 or under, and all players listed as "In The System" for a team, are exempt from the waiver draft and do not need to be protected.
The waiver draft will last two rounds for most teams; non-playoff teams get a third round. The order of the first two rounds is the same as for the entry draft, starting with the lowest ranked team from the previous season, each team will be given the option to select an unprotected player. The third and final round is reverse-order and only non-playoff teams are eligible to draft (in this way, the lowest-ranked team from the previous season gets both the first overall selection and the final selection.
Upon selecting a player, unless they have room to protect the newly acquired player, the team selecting the player will be required to make availabe a previously protected player, and that player may be claimed by any other team with a subsequent pick. Teams are permitted to pass at their selection if they do not want to pick any player. A team that passes in one round does not give up its right to draft in subsequent rounds. No team may lose more than 1 goaltender in the waiver draft.