“If an expired domain name registration is not renewed during any grace period provided by us, pursuant to our Service Agreement, rather than delete the domain name registration, we may, in our sole discretion, attempt to find a third party who is interested in registering the domain name, and then renew and transfer the domain name registration to that third party on the customer’s behalf. This renewal and transfer process is called a “Direct Transfer.” We will not attempt to complete a Direct Transfer of a domain name registration after expiration if the customer to whom the domain name is registered has notified us by e-mail at stating that he or she does not want us to proceed with such a transfer. In this case, the domain name registration will be deleted. A customer’s failure to notify us that they do not want us to complete a Direct Transfer constitutes that customer’s consent to the Direct Transfer. As described in our in our Service Agreement, customers are eligible to receive between fifteen and twenty percent (15-20%) of the Net Proceeds generated from the Direct Transfer.”

They accomplish this process thru their backorder partner SnapNames.com. Ask netsol how this process goes, but you’ll likely be asked to create an account with SnapNames before the domain name expires.

Note: each domain registrar has its own process how to handle expired names. I’m mentioning that of Netsol’s since that’s the one you revealed here.