The Redemption Period is a policy started by ICANN and the Registry Operators. This is a 30-day registry-imposed ‘hold period’ for domain names which have expired and were not renewed by the registrant, allowing the drop domain process to run.
Normally domain names would be deleted at this point, but the redemption period provides the registrant with one last chance to recover the domain before it’s dropped and potentially registered by a new owner.
To renew a domain that is in the redemption period, there is an RGP (Redemption Grace Period) fee that is applicable, in addition to the regular renewal fees. It can take up to 4 business days for the process to be completed.
If you wish to renew a domain name whilst it’s in this period, please lodge a new eTicket to our Billing team via VIPControl. The RGP fee is considered to be $120 in most cases (in addition to the regular domain name renewal fee); with the general exceptions to this are domain names registered through our legacy providers RealtimeRegister ($150) and eNom (varying fee per registration type). Our billing department will confirm the exact pricing before continuing.
Alternatively, there is always the option of waiting out the entire redemption grace period which lasts for 30 days, following this period the domain name will be completed deleted and drop into the available domain pool approximately 5-6 days later. Once the domain name is deleted it is available to register by anyone, so the risk of losing it to a new registrant is high.
You can read more on the Redemption Period online here.