1. A new domain name can be registered for a term of 1 to 10 years.. Before registration the status code for the domain is AVAILABLE
2. After registration , the status of the domain is ACTIVE, nobody else can register the domain name unless it is back to AVAILABLE state.
3. Once the domain completes the registration term, a reminder mail is sent to the domain registrant asking him to renew the registration. Once renewed, the domain goes back to state 1. If he fails to renew it the domain enters a period where the status goes to EXPIRED. Even during this period the registrant can renew the registration by paying normal renewal fee and domain goes back to step 1.
4. Once the domain passes the expiration period of 0 to 40 days, it enters a period called redemption period, which can be 0 to 30 days. During this period, again the registrant can get his domain back, but paying an additional fine to the registrar along with the renewal fee. Until the redemption period, again no others can register this domain..
5. At the end of redemption period, the domain may be deleted from the registry in 0 - 5 days. In this period, status of the domain will be PENDINGDELETE. Domains deleted are available for fresh registration as before step 1. Usually domains are deleted at 2 p.m PST.