Transferring a Domain Away from namecheap.com

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Recently I had the task of moving a .com domain away from NameCheap (a domain registrar) over to a 123-reg account that I was much more familiar with and would be able to help out the client. The process, although not particularly difficult, does involve quite a few steps and therefore I thought I would share how I managed to transfer a .com domain away from NameCheap.