EPP code (sometimes referred to as auth code or authorization code) is an authorization key used for transferring domains from one registrar to another. Some registrars send the EPP code by email (GoDaddy, Namecheap, Network Solutions) to the domain’s administrative contact, some have an interface (Hexonet) where the EPP code can be found.
ICANN regulations allow up to 5 days to send the EPP code by email. However, it is usually instant in most cases. Network Solutions sends the EPP code 3 days after it is requested. Not all domain extensions have EPP code which makes domain transfer a relatively complicated process: in this case different forms should be filled and signed for verification purposes.