On Aug. 31, 2013, ICANN adopted the Expired Registration Recovery Policy (ERRP), which requires registrars to disclose important information to Registrants and prospective customers about expiration notices, fees, and redemption procedures.

What happens to expired Domains that are set to manual renewal
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Domains that are set to manual renewal receive renewal notifications 90 days, 60 days, 30 days, 7 days, 2 days and 1 day before expiration.  Customers wishing to manage their volume of email notifications may opt out of these notifications with the exception of the last one, which is always sent.  The notification preferences may be configured from  Account Notifications

What happens to expired Domains that are set to auto renewal
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Domains that are set to auto renewal receive a renewal reminder 1 week before the expiration date.  Provided that a valid payment method is on file, the domain will auto-renew 1 day before expiration.  If the payment method fails, customers receive 1 notification that their payment method failed.

What happens to Domains that are expired
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Domains that are expired are granted a 15 day grade period. During this time, the DNS of the domain is updated, thereby disabling the customer’s host records.  To restore the prior DNS settings, the customer must renew the domain or complete a transfer the domain to another registrar.

What happens after the 15 day grace period to an expired domains
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After the 15 day grace period the customer’s domain is deleted from their account.   After day 16, the domain will in most cases be recoverable for up to a total of 69 days after the expiration date.  In the case, where the domain can still be recovered a restoration fee not to exceed $90 is assessed.