Originally Posted by Bailey
Added to that Richard at 123 has given a fairly concise and readable explanation already - I've just noticed to the Gtld grace period (page 2)
I'm sorry, but you may have missed my point, and are defending the undefendable. 123reg renewed the domain for a further year. It's not actually in any 'so called' grace perdiod, thats a big fat lie by 123reg. It should have already been on the open market by then, but now is not due to officially expire until 2013 since they renewed it. Also unable to change the IPS tag and move the domain away at this point.
For those who want to read 123reg's blurb on the grace period, visit: http://tinyurl.com/cdbuunf
They make no mention of the fact that they renew the domain for a year, waiting for you to pay them £40 instead of about £9.99. YES they renwed the domain to avoid them paying any high redemption fees themselves, so what you are saying is wrong. they say they are passing on this fee, but they renew the domain in advance of the domain reaching a grace period.
I have been told by a friend that after a further period of time, if the fee is not paid, the domains end up listed on an unrelated site for thousands of pounds (HugeDomains.com). 123reg state that they have no contact with hugedomains, but yet the domain is renewed by 123 and passed onto hugedomains. Explain that anyone?