about residency contract

[docpsych14]

Guys, If we sign contract for next year residency in a program and after that want to change to another program..can we cancel the contract that we already signed in our program?

Please reply
Thanks

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[OldPsychDoc]

Guys, If we sign contract for next year residency in a program and after that want to change to another program..can we cancel the contract that we already signed in our program?

Please reply
Thanks

Contracts are typically annually renewed, so you're really only signing for your first year.

 

[docpsych14]

yeah thats true..but what if we already signed for the next year? Can it be cancelled?

 

[Bartelby]

Your status says "MD/PhD Student," so is this the first year you are talking about? I think if you went through the match and then decline your spot then you cannot participate in future NRMP matches. So consider the prospect that you could no longer participate in the match if things fall through on this other place.

If it is for a PGY-2 or later year I would read the contract and see what it says. Signing a contract is likely legally binding, but the penalties probably vary from state to state and for different situations.