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This might help people understand the Redemption Grace Period a little better.

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Redemption Grace Period

The VeriSign Global Registry Services (VGRS) WHOIS output will change on 25
January 2003 to support ICANN's Redemption Grace Period policies. In
advance of this change we wanted to inform the Internet community of the new
information that will be provided and how it will be displayed.

Currently, VeriSign Registry publishes the following domain information:

Domain name
Registrar name
Registrar whois server
Registrar referral URL
Delegated name servers
Last updated date

An example:

Domain Name: EXAMPLE.COM
Registrar: NETWORK SOLUTIONS, INC.
Whois Server: whois.networksolutions.com
Referral URL: http://www.networksolutions.com
Name Server: A.IANA-SERVERS.NET
Name Server: B.IANA-SERVERS.NET
Updated Date: 19-aug-2002

On 25 January VGRS will be adding the following fields to our whois output:

Status
Creation Date
Expiration Date

The new output will look like this (the values for the new fields displayed
in this example are for illustrative purposes only):

Domain Name: EXAMPLE.COM
Registrar: NETWORK SOLUTIONS, INC.
Whois Server: whois.networksolutions.com
Referral URL: http://www.networksolutions.com
Name Server: A.IANA-SERVERS.NET
Name Server: B.IANA-SERVERS.NET
Status: ACTIVE
Updated Date: 19-aug-2002
Creation Date: 01-jan-1999
Expiration Date: 01-jan-2009

Status values can be one or more of the following (each will appear on its
own line if set):

ACTIVE: The registry sets this status. The domain can be modified by the
registrar. The domain can be renewed. The domain will be included in the
zone if the domain has been delegated to at least one name server.

REGISTRY-LOCK: The registry sets this status. The domain can not be modified
or deleted by the registrar. The registry must remove the REGISTRY-LOCK
status for the registrar to modify the domain. The domain can be renewed.
The domain will be included in the zone if the domain has been delegated to
at least one name server.

REGISTRY-HOLD: The registry sets this status. The domain can not be
modified or deleted by the registrar. The registry must remove the
REGISTRY-HOLD status for the registrar to modify the domain. The domain can
be renewed. The domain will not be included in the zone.

REGISTRAR-LOCK: The sponsoring registrar sets this status. The domain can
not be modified or deleted. The registrar must remove REGISTRAR-LOCK status
to modify the domain. The domain can be renewed. The domain will be
included in the zone.

REGISTRAR-HOLD: The sponsoring registrar sets this status. The domain can
not be modified or deleted. The registrar must remove REGISTRAR-HOLD status
to modify the domain. The domain can be renewed. The domain will not be
included in the zone.

REDEMPTIONPERIOD: The registry sets this status when a registrar requests
that the domain name be deleted from the registry and the domain has been
registered for more than 5 calendar days (if the delete request is received
within 5 days of initial domain registration it will instead be deleted
immediately). The domain will not be included in the zone. The domain can
not be modified or purged; it can only be restored. Any other registrar
requests to modify or otherwise update the domain will be rejected. The
domain will be held in this status for a maximum of 30 calendar days.

PENDINGRESTORE: The registry sets this status after a registrar requests
restoration of a domain that is in REDEMPTIONPERIOD status. The domain will
be included in the zone. Registrar requests to modify or otherwise update
the domain will be rejected. The domain will be held in this status while
the registry waits for the registrar to provide required restoration
documentation. If the registrar fails to provide documentation to the
registry within 7 calendar days to confirm the restoration request, the
domain will revert to REDEMPTIONPERIOD status. The domain status will be
set to ACTIVE only if the registrar provides documentation to the registry
within 7 calendar days to confirm the restoration request.

PENDINGDELETE: The registry sets this status after a domain has been set in
REDEMPTIONPERIOD status and the domain has not been restored by the
registrar. The domain will not be included in the zone. Once in this
status all registrar requests to modify or otherwise update the domain will
be rejected. The domain will be purged from the registry database after
being in this status for 5 calendar days.

Expiration Date: on 01-jan-2003 for example, the registry instantly extended the domain until 01-jan-2009 if the regstrar did not receive payment from the registrant - they may delete the domain.
If the Creation Date shows 2009 as well - then the domain was renewed.



Source : http://www.dnso.org/clubpublic/ga/Arc11/msg01504.html

ICANN's original redemption grace period proposal can be found here:

http://www.icann.org/registrars/red...sal-14feb02.htm

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