International cyber squatter - any way to ensure return of site after I pay him?

[swbsam]

Long story short, someone screwed up at the company I work for and let the registration slip on a domain name. Someone in mexico registered it and now is demanding x amount of dollars for it. My ceo said that we should just pay the guy and get it over with, but is there a way to protect ourselves, i.e. make sure he actually transfers the domain to us?

 

[txrandom]

How the hell do you let a registration slip away? You have at least a year to renew plus a thirty-day waiting period while only the past owner can renew it.

 

[Vette73]

You can file a complaint and probable get it back for free.

 

[QurazyQuisp]

Originally posted by: Marlin1975
You can file a complaint and probable get it back for free.

If it's a .com, .net, .org or any extension that ICANN has control over you can get your domain back through them, for free, if the person who purchased the domain contacted you about purchasing the domain, otherwise it's a little harder to get back free.

 

[funkymatt]

I caught this right before it happened at my last company. didn't even get a thanks. jerks.

 

[Tim]

Originally posted by: funkymatt
I caught this right before it happened at my last company. didn't even get a thanks. jerks.

Thank you matt.

 

[Baked]

Lots of competent people getting paid top dollars for jobs they don't do. I love this country. Hey, is your company hiring?

 

[paulxcook]

Originally posted by: funkymatt
I caught this right before it happened at my last company. didn't even get a thanks. jerks.

Thanks matt!

 

[rezinn]

Originally posted by: funkymatt
I caught this right before it happened at my last company. didn't even get a thanks. jerks.

You're an asset to the company.

 

[AgaBoogaBoo]

To answer the OP - use an escrow service. I forget the names of them right now, been a while since I used them, but they usually charge the seller 10%.