ICANN Domain Transfer Policy Explained
ICANN started a new “Domain Transfer Policy” for changing domain ownership from one registrant to another from December 1, 2016, onwards.
Each time a change in registrant happens, the approach is called upon and series of confirmation and approval messages are set off.
Even minor updates to the registrant’s Name, Organization or email also set off notifications and confirmation Emails.
Failing to verify the confirmation emails will trigger 60 days registry lock for the domain name where your domain name will be locked down completely by the registry for 60 days.
Domain Redemption Period has a grace period of 30 days held by the registrar. It is imposed by the Registry and was induced by ICANN to provide clients with an additional time period to renew their domain address.
After the domains have expired for 40 days, it will enter the redemption period. In the redemption period, the owner of the domain has the final chance to recover the domain before it is deleted and open to the public.
However, please be warned that the redemption fee will be USD200, which is almost 15 times the normal domain renewal fee as ICANN encourages the domain owner to renew timely, to avoid the domain entering the redemption period.
If the owner fails to renew the domain name which is in the redemption period, the domain name will get deleted and then eventually available for the public for registration.