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by memset 2013 days ago
It turns out that grace periods (called a "redemption grace period") weren't proposed until 2003. I'm not actually sure when this process was approved by ICANN - sometime between 2003 and 2013.

The latest version of ICANN's registrar accreditation agreement, in 2013, includes grace period provisions. https://www.icann.org/resources/pages/approved-with-specs-20...