Who is ICANN?
The Internet Corporation for Assigned Names and Numbers (ICANN) is the registering body that oversees the .com.
ICANN’s policy regarding the transfer process is known as the Inter-Registrar Transfer Policy. To see the policy in full, refer to this link:
> 1 year additional registration upon transfer
It is important to note from the policy that domain name holders must pay for an additional year of registration upon transfer.
> 60 day non-transfer period
The transfer may not occur until 60 days after the initial registration of the domain name or any previous transfers to initiate a transfer.
Why does ICANN require a 60 day non-transfer period and an additional year’s payment when transferring?
It is speculated that it is to prevent constant transfers and generally slow the process and focuses on genuine and legitimate requirements for transfer. This deters those looking for cheap domain pricing then transferring into the account they want use, and generally deters transfer. This being said, those who wish to transfer to the system they desire rather than cheaper prices will usually be willing to pay this extra cost.
For full details see this link:
For further information on ICANN visit: http://www.icann.org/