new gtlds Can they really change the renewal fees?

[Traveler]

I read in a thread that the renewal fee on a new gtld domain name was raised by thousands of dollars. I believe the name was dropped and then when I checked it was available at a premium for $249 at godaddy.

Can anyone shed light on the renewal fee policy ICANN has in place or if there is one.

I am starting to see the light on these sort of names but if they can jack up the renewal rate at will, that scares me. I would not be comfortable purchasing a name with a certain renewal fee and then developing it if the renewal fee can be changed at anytime to whatever amount. A name could basically be held for ransom if you get successful.

 

[ComboNames]

I don't think Godaddy will risk losing their costumers by changing the renewal fees , but if they do increase it I'm sure it won't by more than few dollars.

 

[Traveler]

I don't think Godaddy will risk losing their costumers by changing the renewal fees , but if they do increase it I'm sure it won't by more than few dollars.

I don't think it would be Godaddy's choice, but I am not sure. A little clarification would be nice.

 

[equity78]

I don't think it would be Godaddy's choice, but I am not sure. A little clarification would be nice.

Exactly right it is not Go Daddy's call, if Donuts says the wholesale price on ****** went to $800, Go Daddy has to raise the price on their end. If the domain is dropped then the new price can be whatever they like, if you own the name I believe they have to give you notice so you have the ability to register for up to ten years at the current renewal price.

 

[doubleU]

As I understand it, the original pricing tier for a domain when registered will not increase, if I'm right then this offers some protection for registrants.

 

[RU]

subscribed...

 

[vivaldi]

if you own the name I believe they have to give you notice so you have the ability to register for up to ten years at the current renewal price.

Have seen Minds and machines raise the renewal fees for registered domains with an instant impact and no possibility to renew it before the new pricing kicks in.

 

[RU]

I heard horrific stories about .travel renewals

 

[equity78]

I found this:

(b) With respect to renewal of domain name registrations, Registry Operator shall provide ICANN and each ICANN accredited registrar that has executed the registry-registrar agreement for the TLD advance written notice of any price increase (including as a result of the elimination of any refunds, rebates, discounts, product tying, Qualified Marketing Programs or other programs which had the effect of reducing the price charged to registrars) of no less than one hundred eighty (180) calendar days. Notwithstanding the foregoing sentence, with respect to renewal of domain name registrations: (i) Registry Operator need only provide thirty (30) calendar days notice of any price increase if the resulting price is less than or equal to (A) for the period beginning on the Effective Date and ending twelve (12) months following the Effective Date, the initial price charged for registrations in the TLD, or (B) for subsequent periods, a price for which Registry Operator provided a notice pursuant to the first sentence of this Section 2.10(b) within the twelve (12) month period preceding the effective date of the proposed price increase; and (ii) Registry Operator need not provide notice of any price increase for the imposition of the Variable Registry-Level Fee set forth in Section 6.3. Registry Operator shall offer registrars the option to obtain domain name registration renewals at the current price (i.e., the price in place prior to any noticed increase) for periods of one (1) to ten (10) years at the discretion of the registrar, but no greater than ten (10) years.

http://newgtlds.icann.org/sites/default/files/agreements/agreement-approved-09jan14-en.htm

 

[brandnow]

This has also been one of my concerns with nGTLDs too.

Take for example .Casa.. annual renewals are currently around $4.99.. I think set by the registry. If the .Casa registry were to go bankrupt.. and if .Casa were to get sold to a different registry. Then what if you were building brandnow.Casa and suddenly the new registry starts charging $99 / year renewal fees for non-premium .Casa names.

Can this happen? Would this happen? That's one of my biggest long-term worries about developing on nGTLD names. If anyone can clarify the confusion surrounding this unknown. Or is it just unknown because it hasn't happened yet?