Why is timely domain name renewal so important?
Domain selection is an essential step when setting up a brand. No matter whatever your niche is, you will be recognized for your brand name i.e domain name. Websites that exist in the name of your domain name will create confusion among customers about the real owner of the brand. When purchasing a domain name, there are options given for the renewal of the domain name with the registrar to continue using the domain name after the set time. The duration given for this time renewal varies from 1 to 10 years. The renewal should be done prior to the expiration of the set date. If renewal is not done, the domain name gets transferred or released and becomes available for purchase on a first-come-first-serve basis. The pricing for domain registration and renewal differs from registrar to registrar. Hence, make sure to read and understand the terms and conditions of the product purchased. Usually, it is a 1-year renewal, but it is suggested to keep the renewal period extended. One thing you can do is to extend the renewal period to ten years to avoid yearly removal. If at all you feel like cancelling the domain name subscription, you can contact the registrar for the same. On cancelling the domain name, the registrar will delete the domain name. Also, the IT team of your firm should be active and alert during the end of the renewal period to get the domain renewed as soon as possible.
Fevicol.com sold in an auction due to failure in the renewal of domain name – In the News!
On September 14, 2021, Fevicol.com was caught on dropcatch.com and sold in an auction for USD 1,068 to an unknown purchaser. This happened because Pidilite Industries i.e owner of fevicol had failed to renew its domain name Fevicol.com.
Fevicol, a well-known brand that is recognised even by the illiterate and little children, has suffered a significant loss as a result of this mistake. Reclaiming the domain can cost a huge sum of money for the original brand. Being a well-established business, such an act is unthinkable, as it may result in a huge loss for the organisation.
Also, a case has to be filed against the same to avoid misusing the domain name. Hence it is necessary to renew domain names periodically. According to ICANN policy, if you extend your renewal period to more than 1 year, then in between if you wish to delete the domain name you can approach the registrar for the same. With deletion, the domain name enters a redemption period of 30 days. At this stage, it is available for restoration to the users. For 5 days the domain name goes into Pending Delete if not restored. The domain name will be released and kept available for registration after the renewal period has expired. Irrespective of whatever the life cycle stage is in your cancelled domain name, you cannot get the domain back after cancellation or expiration. During the 30 days Redemption Grace Period, domain names can be redeemed (or renewed) before their expiration date. In the Redemption Grace Period, if you try to redeem (or renew) your domain name, but are unable to do so, the registrar may be in violation of the Expired Registration Recovery Policy.
The renewal price for every registrar varies hence make sure to read and understand the terms of service carefully.
This case is a huge example of the consequences to be faced when renewals are taken lightly. Read the news here. Hence, to conclude if you have got an online business, don’t forget to renew your domain name on time. This could save you from wastage of a lot of unnecessary time and money. We don’t know when fevicol.com will be back but until then just wanted to ask you a question. Have you renewed your domain name yet?