Redemption Period is a 30 day, Registry-imposed hold period for domains that occurs after the Registrar has instructed the Registry that the domain should be "deleted".
Domains will go into REDEMPTION PERIOD state if they have been EXPIRED for at least 40 days, were NOT RENEWED by the owner, and the "delete" process has run.
Before this change was made, domains would have been deleted at this point, then again open for registration by the first person to try, but the REDEMPTION PERIOD can provide the domain owner with another chance to recover the domain before it is removed completely and potentially re-registered by a new owner.
It is a policy started by ICANN and the Registry Operator, Verisign - for more details please see this URL:
The Redemption process is costly, both in fees and in effort.
Clients should be discouraged from using the Redemption Period and encouraged to renew domains before they expire or during the following grace period before redemption when a renewal can be done in real time and for no additional cost other than standard renewal charge.
Domains are still deleted from the Registrar's database at the 40-day point but go into REDEMPTION period in the central Registry - To get a domain name back from Redemption please lodge a ticket in your account requesting us to renew your domain that is in the Redemption Period, be sure to include the point that you understand the extra charges.
Please also join us in Livechat or call as soon as possible so we can get the process started as soon as possible, as this process is time limited and if not completed you can lose the domain name altogether.
Getting a domain back from Redemption costs AUD$99 + 1 year normal registration renewal -these charges are simply passed on from the charges imposed by the Registry Operator (currently Verisign) and the Registrar - the domain can only be reverted back to the original owner (original Registrant WHOIS information).
However, it is possible to instead wait out the entire grace period and attempt to register the domain again once deleted, this can be a much less expensive option if you wish to try this, but there is no guarantee that you would get the domain again and it would be offline until then.
The time till possible deletion would be approximately 40 days (Post Expiry Grace status) + 30 days (Redemption Period status) + 5 days (Pending Delete status) = 75 days after the original expiry date.
(Please note that at this point, the current accredited ICANN Registrar for the domain may re-register the domain themselves immediately after removal - this generally only happens with domains that have a high resale potential though.)