The grace period (i.e the period from when the domain is suspended until it is deleted) for .is domains has been 60 days from the beginning. This period will after April 1st. 2018 be shortened to 30 days, counting from the renewal date of the domain.
The reason for this is simply to get deleted domains back on the market one month sooner and to align the .is domain rules to international conventions. After this change ISNIC will also inform the registrant precisely when the domain will be deleted, regardless of any holidays. This means that the so called holiday rule will also be abandoned (.is domains were never deleted on icelandic holidays).
The third reason for this change, and perhaps the most important one, is to increase automation and enabling ISNIC to maintain stable registration- and renewal fees in spite of cost increases.
Kind regards from the high north,
Jens Pétur Jensen, CEO
ISNIC the .is Registry
Reykjavik, Iceland.