The Redemption Grace Period is an addition to ICANN's Registrar Accreditation Agreement (RAA)[2] which allows a registrant to reclaim their domain name for a number of days after it has expired.
These services offer to dedicate their servers to securing a domain name upon its availability, usually at an auction price.
[5] Individuals with their limited resources find it difficult to compete with these drop catching firms for highly desirable domain names.
[5] Retail registrars such as GoDaddy or eNom retain names for auction through services such as TDNAM or Snapnames through a practice known as domain warehousing.
In some cases back-orders can only be placed at certain times, for example after the domain name has expired, but before it has returned to the open market (see Redemption Grace Period).