From: Bruce Tonkin <Bruce.Tonkin@melbourneit.com.au> To: "GNSO Council " <council@gnso.icann.org> Date: Sun, 21 Mar 2010 23:58:58 -0400 Subject: [council] Continued Operations Instrument for new gTLDs
Hello All,
Note that a key component of new gTLDs, is that a new gTLD will be stable and that registrants in a new gTLD are protected in the event that a new gTLD applicant no longer operates the domain.
The draft registry agreement in the Draft Applicant Guidebook contains the following provisions in Specification 8 - that requires a financial instrument to guarantee funds to continue to operate the registry for a further 3 years.
I point this out - as it is an additional cost once a TLD is awarded - that funds would need to be allocated for the Continued Operations Instrument.
Regards, Bruce Tonkin
CONTINUED OPERATIONS INSTRUMENT
1. The Continued Operations Instrument shall
(a) provide for sufficient financial resources to ensure the continued operation of the basic registry functions related to the TLD set forth in Section [__] of the Applicant Guidebook posted at [url to be inserted upon finalization of Applicant Guidebook] (which is hereby incorporated by reference into this Specification 8) for a period of three (3) years following any termination of this Agreement on or prior to the fifth anniversary of the Effective Date, and
(b) shall be in the form of either (i) an irrevocable standby letter of credit, or (ii) an irrevocable cash escrow deposit, each meeting the requirements set forth in Section [__] of the Applicant Guidebook posted at [url to be inserted upon finalization of Applicant Guidebook] (which is hereby incorporated by reference into this Specification 8).