It's good up until a couple of days before the June Amateur Draft... Once the order is set, that "forfeiture" is no longer happening.
It happened a few years ago when Roger Clemens didn't sign until after the draft (if memory serves)... Once the draft takes place, the table is cleared.
David Draggle
Quick question -- how long does the draft pick forefit penalty last for? If (and I realize this is unlikely) Swisher or any of the free agents that turned down their qualifying offers don't get offers until after spring training or the season starts, does the team that signs them need to forefit its draft pick? When does the free agent lose this burden?