There is no auth code. The gaining and losing registrants will receive an email from the registry which must be approved within 14 days.
The domain expiration date is extended one year from the date of transfer or trade, not one year from the existing expiration date.
A trade and a transfer are essentially the same thing, a trade means contact information for Organization or Name was updated and also may include a change of registrar. A transfer means nothing changed in the contact details during the transfer. Both processes are exactly the same but the emails the registrant receives from the registry will have different subject headers.
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