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The waveform relaxation (WR) method is well known for the time domain solution for partitioned systems of circuits or differential equations. In this paper, the WR method is applied to an example EM problem consisting of several conducting patches. We utilize the partial element equivalent circuit (PEEC) models as an EM formulation and give example waveforms for solution with and without using the WR method. It is shown that the method leads to considerable savings in storage and also to a speedup for larger systems. This approach is well suited for parallel processing.