Did you know that failing to renew your domain name at the expiration date can result in someone else gaining control of it? Something as simple as failing to pay a $10 annual renewal can put your internet marketing efforts into turmoil. All of your links, ranking reviews and past guests’ bookmarks will be lost to the new domain owner, not to mention any printed material such as tour guides and kiosk flyers that may be floating around for years.
If the new owner doesn't want to sell the domain back to you (and it won't be cheap), there is little you can do to regain control once it is forfeited. If you have already lost control of your domain name, read the ICANN, arbitration policy to determine your next steps. Arbitration is not free, it is quite expensive and the fee is not refundable regardless of whether you win or loose. The best way to avoid loosing your domain name is to be sure that you know your domain registration renewal date. Keep a reminder of expiration and check with your Webmaster or registrar prior to expiration to make sure it is properly renewed.