You want your potential attendees of an event or a membership to agree to a linked waiver or additional terms? You can add a hyperlink to your custom field.
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Within Organisation Settings > Custom Fields > Edit Custom Field edit the title and add some HTML.
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It will be something like:

You can copy and past this example above in to your own Custom Field, just make sure to replace the example with your required hyperlink.

There is also a Helper Text field which conveys additional guidance about the input field, such as how it will be used. It should be clear and concise.
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You can now add this field to your Event Registration checkout and it looks like:
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