- Impact
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GD requires a signed contract before an approved domain is finally listed. I went through it and realized that the contract implies exclusive brokerage rights to GD for the duration of the agreement. Here it is the relevant clause:
Is my understanding of this clause accurate? If you wish end the agreement, check out this clause:
So if you want out, you have to notify them in writing 15 days before the end of each 6-month automatically-recuring term.
I have no problems with granting them exclusive brokerage rights for my soon-to-be-listed domains, but just wanted to post this so that others could avoid the lamentable situation of selling a GD listed domain outside GD, then getting the deal stopped at the registrar level, or worse, getting sued by GD.
2. Lock-Down and Power of Attorney. Registrant shall not itself, or allow or enable another to, transfer the Domain Name other than under the provisions of this Agreement. Registrant grants GreatDomains the right to cause and prevent the transfer of the Domain Name to any third party other than under the provisions of this Agreement. Registrant hereby appoints GreatDomains as its attorney in fact to act in Registrant’s capacity to do every act that Registrant may legally do through an attorney in fact for the purpose of preventing the transfer of the Domain Name other than under the terms of this Agreement. Registrant grants to its attorney in fact full authority to act in any manner both proper and necessary to the exercise of the foregoing powers, including without limitation the authority to take all actions necessary with the registrar of the Domain Name that would prevent the transfer of the Domain Name to any third party other than as provided for under the provisions of this Agreement.
Is my understanding of this clause accurate? If you wish end the agreement, check out this clause:
5. Term This agreement shall have an initial term of 6 months from the date of execution hereof (“Term”), and, upon termination of each term hereof, shall automatically renew and extend for additional like terms unless either party shall advise the other in writing within 15 days prior to the expiration of any Term hereof of its intent to terminate the Agreement upon termination of the respective Term. GreatDomains may terminate this Agreement without cause upon providing Registrant with 30 days prior written notice of such termination.
So if you want out, you have to notify them in writing 15 days before the end of each 6-month automatically-recuring term.
I have no problems with granting them exclusive brokerage rights for my soon-to-be-listed domains, but just wanted to post this so that others could avoid the lamentable situation of selling a GD listed domain outside GD, then getting the deal stopped at the registrar level, or worse, getting sued by GD.
