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The Collaborative International Dictionary
Fair catch

Fair catch \Fair catch\ (Football) A catch made by a player on side who makes a prescribed signal that he will not attempt to advance the ball when caught. He must not then be interfered with.

Wiktionary
fair catch

n. (context American football English) A uncontested catch on a kicking play, after the receiver waves his hand to indicate that he will not run with the ball, assure that he will not be tackled on catching it.

WordNet
fair catch

n. (American football) a catch of a punt on the fly by a defensive player who has signalled that he will not run and so should not be tackled

Wikipedia
Fair catch

A fair catch is a feature of American football and several other codes of football, in which a player attempting to catch a ball kicked by the opposing team – either on a kickoff or punt – is entitled to catch the ball without interference from any member of the kicking team. A ball caught in this manner becomes dead once caught, i.e., the player catching the ball is not entitled to run with the ball in an attempt to gain yardage, and the receiving team begins their drive at the spot where the ball was caught. A player wishing to make a fair catch signals his intent by extending one arm above his head and waving it while the kicked ball is in flight. The kicking team must allow the player an opportunity to make the catch without interference.

The primary reason for the fair catch rule is to protect the receiver. A receiver directs his attention toward the incoming punt and cannot focus on the defenders running towards him. He is quite vulnerable to injury and is also at risk for fumbling or muffing the kick if the punter intentionally makes a high short kick to allow defenders time to hit the receiver. A second reason for a fair catch, on a punted ball, is to prevent the ball from rolling toward the receiving team's goal and being downed deep in the team's own territory. The XFL removed the fair catch rule in an effort to make the game more "extreme." Canadian football and Arena football also do not have fair catch rules, with XFL and CFL preferring a five-yard "no-yards" rule instead.

In rugby union and Australian rules football, a loose equivalent to a fair catch is called a mark; see mark (rugby) and mark (Australian football) for more information (however in Australian Rules Football the player is not protected from the opposition team while attempting a mark). Fair catches featured in some extinct forms of football, and they have been abolished in other modern codes. In Australian run NRL(National Rugby League), which is a different game altogether from Rugby and Australian rules, the defensive player attempting to catch the ball cannot be hit(tackled)whilst in the air, though the offensive players can contest the ball(attempt to catch it). Once the defensive player catches the ball and lands on the ground, if he was jumping for the ball, he is able to be hit. If the defensive player does not leave the ground in attempting to catch the ball, he can be hit anytime.

Usage examples of "fair catch".

Minnesota punted - a good one that required a fair catch at the Chargers' thirty.

Sam had six fish, Tom as many more, and all of the others a fair catch.