What is a redemption period?
The registry will charge an amount as redemption fee to redeem a domain name. During this period the domain status may be displayed as “Redemption Period” or “Pending Delete-Restorable.” The redemption period is actually the last option for the registrant to recover the domain name. The ICANN requires that the registries implement this facility so that the domain name holders might redeem a deleted name.
After the deletion of domain name, if the registrar does not request the name to be in registration grace period, then it enters the redemption hold period. After that the name will be available for re-registration. Once the domain name enters the redemption hold period then the registrar won’t be able to renew the domain. If a domain name is in redemption hold period then its status will be “Pending Delete-Scheduled for Release”. So it is strongly recommended to renew your domain name before it enters the redemption period otherwise the zone files get automatically deleted from the DNS.
If the registrar wants to restore a name then a special restore report must be sent with the background documentation and the reason for restoration within five days of request.
The deletion of a domain name may also arise due to registrant mistake, inadvertence, registrar mistake or by domain name hijacking. The redemption period allows the registrants to recover their domain names before deletion.