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Domain Transfer Secret

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What is a Domain Transfer Secret? What is the use of domain transfer secret?

A Domain Transfer Secret (Transfer Key,EPP Code) is a key granted by all the Registrars for all gTLD's and ccTLD's domains. Transfer Secret is necessary for transferring any of the domains from one Registrar to another. If there is no transfer key provided then domains with the above extensions cannot be transferred. When Transfer key is supplied at the time of transferring a domain from one Registrar to another, it is considered as transfer approval from the owner of the domain and the domain gets transferred directly. However, the transfer takes place within a period of 8 to 10 days.

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