Your Domain Renewal could cost you thou$and$!

ICANN posted updates for it’s Proposed .BIZ, .INFO AND .ORG gTLD Registry Agreements. This update means that they could pursue variable domain pricing and that is determined by the current market value of the domain.

Fees Payable to ICANN. The proposed new .BIZ, .INFO and .ORG registry agreements provide for a sliding scale of transactional fees payable to ICANN per annual increment of a domain name, starting with $0.15PHP 9INR 13EUR 0.14CNY 1 in 2007 and 2008, $0.20PHP 12INR 17EUR 0.19CNY 1 in 2009 and 2010, and increasing to $0.25PHP 15INR 21EUR 0.24CNY 2 in 2011 and 2012* (*the proposed new .ORG registry agreement has a fee schedule implementation date of July 2007, and will continue through June 2013). The per name transaction fees, however, are subject to adjustment depending on the average price of domain name registrations during each calendar quarter throughout the term of the agreement. Each of the proposed new agreements provide only for a transactional fee component payable to ICANN, with no fixed fee. This is a markedly different approach from the fixed fee established in the 2001 .BIZ and .INFO registry agreements, and 2003 .ORG registry agreement, and is intended to appropriately scale the fees payable by each registry to ICANN to the success or decline of the registry business.

If YOU happen to create a valueable business, its almost as though ICANN is fining you and your business for its success, as the success of your business may have (organically and quite rightly) improved value of your domain name.

Since ICANN may charge the market-value price for domain registration, rather than paying the $8PHP 469INR 678EUR 8CNY 58 or $10PHP 587INR 847EUR 10CNY 73 you’re used to, you might end up paying thousands of dollars.

This has tremoundously important implications for the business world, for large and small business alike.

Today was the last day to file an “e-opinion” regarding the proposed situation … time will tell if this sort of change will go through.

And if it does, you can bet your bottom dollar, it will finally be covered en masse by the other larger web2.0 news sites.

More explanation here , here and here.