Restricted Free Agents (RFA)
RFA: A player with three accrued seasons and an expired contract. RFAs are free to negotiate and sign with any team, but their original team can offer them one of various qualifying offers (“tenders”) that come with the right of first refusal and/or draft-pick compensation.
Exclusive Rights Free Agents (ERFA)
ERFA: Any player with fewer than three accrued seasons and an expired contract. If his original team offers him a one-year contract at the league minimum (based on his credited seasons), the player cannot negotiate with other teams.
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