A
Andrew Allemann
Guest
Extension will add six years to existing agreement.
ICANN has published a proposed extension to its contract with Verisign (NYSE:VRSN) for .com.
While the existing contract doesn’t expire until 2018, the parties are extending the agreement so that its end date matches that of the new Root Zone Management Agreement. The Root Zone Management Agreement (RZMA) is necessary due to the planned removal of the National Telecommunications and Information Administration role in the IANA contract.
The extension runs through 2024.
Verisign CEO Jim Bidzos explained on a conference call earlier this year that the company expected the RZMA to be for ten years, and thus the .com agreement would be extended to match that. Instead, the RZMA is for eight years, triggering a six-year extension of the .com contract (which was due to renew in 2018).
Practically speaking, this extension doesn’t change much. Verisign still has a presumptive right of renewal in the contract. The extension also doesn’t affect .com pricing. Pricing is handled in a different part of the cooperative agreement with the U.S. government.
© DomainNameWire.com 2016. This is copyrighted content. Domain Name Wire full-text RSS feeds are made available for personal use only, and may not be published on any site without permission. If you see this message on a website, contact copyright (at) domainnamewire.com.
Latest domain news at DNW.com: Domain Name Wire.
The post .Com contract extension shorter than Verisign expected appeared first on Domain Name Wire | Domain Name News & Views.
Related posts:
Continue reading...
ICANN has published a proposed extension to its contract with Verisign (NYSE:VRSN) for .com.
While the existing contract doesn’t expire until 2018, the parties are extending the agreement so that its end date matches that of the new Root Zone Management Agreement. The Root Zone Management Agreement (RZMA) is necessary due to the planned removal of the National Telecommunications and Information Administration role in the IANA contract.
The extension runs through 2024.
Verisign CEO Jim Bidzos explained on a conference call earlier this year that the company expected the RZMA to be for ten years, and thus the .com agreement would be extended to match that. Instead, the RZMA is for eight years, triggering a six-year extension of the .com contract (which was due to renew in 2018).
Practically speaking, this extension doesn’t change much. Verisign still has a presumptive right of renewal in the contract. The extension also doesn’t affect .com pricing. Pricing is handled in a different part of the cooperative agreement with the U.S. government.
© DomainNameWire.com 2016. This is copyrighted content. Domain Name Wire full-text RSS feeds are made available for personal use only, and may not be published on any site without permission. If you see this message on a website, contact copyright (at) domainnamewire.com.
Latest domain news at DNW.com: Domain Name Wire.
The post .Com contract extension shorter than Verisign expected appeared first on Domain Name Wire | Domain Name News & Views.
Related posts:
- .Com and .Net Base Tops 100 Million Domain Names
- .Com’s biggest winners and losers
- The history of Verisign’s Internet Official contest winners
Continue reading...
