In a normal year, as soon as their season is done. It's in the players' advantage to sign a contract, and if possible come and burn an ELC year in the NHL. They will get their signing bonus right away, and get that extra year under the wheels towards their UFA status. There is no reason whatsoever for a player to delay. Even school issues... all the schools have accommodations in place for student-athletes, so if that comes up it is basically blowing smoke.
I haven't been the least bit panicky about Farrance to date. It just makes too much sense for him to sign with us as soon as he's able. But if we start to slip past the date when he could, and he doesn't... red flags go up for sure.