This phrase is used to describe a college-bound student-athlete’s commitment to a school before he or she signs (or is able to sign) a National Letter of Intent. A college-bound student-athlete can announce a verbal commitment at any time. While verbal commitments have become very popular for both college-bound student-athletes and coaches, this “commitment” is NOT binding on either the college-bound student-athlete or the college or university. Only the signing of the National Letter of Intent accompanied by a financial aid agreement is binding on both parties.
Courtesy of ncaa.com