If you sign an RFA you must post it on the boards, (here), stating all the details, (salary, length, compensation), you must then send the link to the GM of the player you signed, they then have 3 days (irl), to respond on the boards. If they don't respond within 72 hours the player is yours! Congrats!
In order to sign an RFA you MUST have YOUR picks for the appropriate years. Example - If you sign a player and the compensation is 3 1sts you MUST have YOUR 3 1sts for the next 3 years. This is an NHL rule that we are going to follow.