Transferring Domains, What happens after 5 days??

[Markith]

I started a transfer with a registrar and am told that the current registrar of the has 5 days to respond?

What happens if they don't respond and 5 days passes? do they give a reason for not transferring?? Do you get refunded?

Transferring seems like it takes longer than it should, shouldn't you just pay for a transfer, get an auth code, accept on both ends and bam, done

 

[dnk]

If the transfer is accepted by the current registrant, it is transferred away within 5 days without any problem