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Since I signed on a prematch offer a month ago, I have been waiting for the formal contract. i hope it can be issued before February 23rd which is the NRMP ranking dead line. What if it is not? I don't know what I should do. How much is the offereing letter going to protect my right for the position at the court if they turn down their offer after I withdrew or failed in match. This is a very critical issue for everyone who are in the similar situation.
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It depends on what the letter says. For example my letter says that they are offering me a pg1 position in 2005 with ______ salary, signed by the PD or Graduate medical office. If this is signed, this forms a contract, as legal as the contract that you will eventually sign. The point is things are done on good faith. Even if you sign a contract, and the program doesn™t want you, most people don't go to court, the only thing you would gain is entry into a residency program that doesn™t want you. Conversely if you sign a pre-match offer, and latter break it, programs usually do not pursue the matter, because they don™t want a resident that doesn™t want to be there, and they don™t have the time.
For the most part things are done on good faith. But if you want the strict legal interpretation, read your letter, if it is firmly offering you a position, and has your signature and the signature of someone in power at the program you are going to attend, then it is a legal contract.
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Thank you a lot. My letter is exactly like what you are giving as an example. So I am very much relieved now.