I have gotten a lot of questions from readers on how .Co dropping domains are going to be handled.
.CO’s first year anniversary is coming up on July 19th (expiration date for 1st day registered .Co domains) and domain names will be coming up for their 1st renewals.
So I reached out to the .Co registry who gave me the run down for the process they will be implementing to handle .Co domains that are not renewed by their current owners, otherwise known as dropping .Co domain names.
.CO once again is going to be taking a whole new approach to handling of dropping domain names, by allowing Back-Order Reservations for Domain Names Before they Drop.
You can read the details below, but under this system there will only be one backorder allowed, so first come first served, with no auctions.
My understanding is that when a .CO domain name expires, the Restore Grace Period (RGP) kicks in from the date of expiration for a period of 20 days before the domain is dropped.
During the first 15 days of the RGP domain names are Restorable by the registrant.
As with .com domains there will be a redemption fee.
Each registrar sets their own price for the redemption service just as they do to redeem a .com domain during the redemption period.
Based on what registrars charge to redeem a .com, I believe the fee may range anywhere from $90 – $200 per domain for redemption.
If the domain is not redeemed by the registrant during the 15 day period, then in the Last 5 days of the RGP the domain name becomes Non-Restorable.
During the last 5 days of this RGP period, anyone can make a reservation for a particular .CO domain that is about to drop through a .CO accredited registrar.
Once again the fee to back order a .Co dropping domain will be set by each registrar.
It’s going to be a one time fee plus the normal cost of registration.
Since the domain at this point will be in non-restorable status the person who back-ordered the domain will get it.
This Reservation fee is separate from the normal Registration cost and is not refundable given that if a Reservation is accepted and charged then it means the domain will be awarded.
The .CO Registry will launch this backorder process on Wednesday, August 3rd, which is 15 days after the 1st .Co domain expire.
Reservations (Backorders) will be made on a first-come, first-served basis, and only one backorder reservation will be allowed per domain.
If you plan to play in the .CO drop market, check with your .CO accredited registrar of choice from now to make sure they will be offering this option.
Since participation is optional for accredited registrars you need to make sure your registrar is on that list!
I have also heard that some registrars might start this backorder process sooner, making an early order option available to their customers so the process depending on the registrar may begin before August 3rd.
Remember its 1 backorder per domain period, not one backorder per registrar.
Of course if no one places a backorder on a .CO domain name in that 5 day period the domain name will drop and will be available to be registered by anyone on a first come, first serve basis for normal registrations fees any time after they drop.
For .CO investors, this is great news.
It means you can place back orders on the very valuable first round of .CO drops without domains going into drop auctions.
For the specific details about how the .CO back order process will work, check with your registrar, each registrar probably has its own unique policies, prices and processes to consider and we will keep you updated as more information is made available from registrars.