18(c) What operating rules will you adopt to eliminate or minimize social costs?

Prototypical answer:

gTLDFull Legal NameDetail
.bankfTLD Registry Services LLCView

The adoption of rules and elimination of social costs for the banking community are at the core of FRS’ strategy. Its proposed operating rules will provide the global banking community, businesses and consumers with a trusted online environment, and in turn minimize not just operating costs, but also social costs. The goal is that this verified ecosystem will be poised to offer consumers the choice for a trusted source for banking information, products and services with a substantially lower risk of fraud and⁄or scams. In addition, FRS’ processes are designed to protect trademark rights of banks. The strict registration restrictions and eligibility requirements in the .bank gTLD will eliminate the need for banking company trademark and brand owners to defensively register
second-level domains in the .bank gTLD. Both of these strategies will serve to minimize financial costs both within the financial services industry and to the Internet community as a whole.

The proposed operation of the .bank gTLD by FRS will not impose negative consequences or cost implications upon consumers. On the contrary, the proposed operation of this registry will likely lead to direct and quantifiable benefits to consumers particularly regarding the reduction of consumer fraud. FRS believes that by following the core corporate values as identified above, it will provide real value to businesses and consumers and minimize any
potential negative consequences⁄costs.

18(c)(i) How will multiple applications for a particular domain name be resolved, for example, by auction or on a first come first served basis?

As detailed in FRS’ response to question 29, the current strategy to handle multiple applications for a single domain name will be to run two distinctive Sunrise periods followed by a Real Time Registration Period (i.e., first come, first served approach during general availability) for the .bank gTLD. Due to the limited and restrictive nature of the .bank namespace, FRS does not envision many significant issues regarding multiple banking community members vying for the same domain name.

However, when there are multiple registrations for a domain name during either the Founder’s Sunrise (the first sunrise for members of FRS’ Founder’s Program, which will operate on a first come, first served basis) or General Sunrise for the broader community, a three-step process will determine which registrant receives the domain. First, within the guidelines set forth by ICANN for protecting trademark⁄registered name rights, first preference will be
given to the applicant with proven rights to the name. Second, if all contending registrants have an equal right, all will be asked to submit a proposed use plan and application fee to demonstrate to FRS how the domain name will be used. Emphasis will be placed on developing and deploying the domain. FRS may employ an independent arbiter to review and make the initial recommendation to FRS’ Board of Directors regarding awarding the domain. Third, in the
event that there is not a clear cut winner after these two steps are undertaken, the parties will proceed to a mechanism of last resort: auction.

After the Sunrise periods, FRS plans to move to a Real Time Registration Period where members of the .bank gTLD community can register strings that comply with registration policies on a first come, first served basis.

18(c)(ii) Explain any cost benefits for registrants you intend to implement (e.g., advantageous pricing, introductory discounts, bulk registration discounts).

FRS has proposed a Founder’s Sunrise Program that would allow members of the global banking community that have financially supported this initiative, to register their domain names in the .bank gTLD before the general Sunrise Period. Potential registrants participating in the Founder’s Program are eligible for discounted registrations. The registration and use of these domain names would be conditioned upon the registration restrictions and eligibility
requirements. At this time, FRS does not anticipate any other price discount programs but reserves the right to revisit this question in conjunction with its Board of Directors and Advisory Board.

Except for the FRS Founder’s discount noted in this section, FRS does not envision any pricing, introductory discounts, or bulk registration discounts because these marketing⁄commercial initiatives are inconsistent with the mission and purpose of the .bank gTLD as a trusted online source identifier.

18(c)(III) Note that the Registry Agreement requires that registrars be offered the option to obtain initial domain name registrations for periods of one to ten years at the discretion of the registrar, but no greater than ten years. Additionally, the Registry Agreement requires advance written notice of price increases. Do you intend to make contractual commitments to registrants regarding the magnitude of price escalation? If so, please describe your plans.

FRS is committed to providing domain name registration services in accordance with the periods set forth in the Registry Agreement and providing domain name registrants with pricing predictability. FRS further acknowledges that the current template Registry Agreement requires that the Registry Operator “shall offer registrars the option to obtain registration periods for one to ten years at the discretion of the registrar.” If price increases are necessary, FRS intends to follow all necessary guidelines in terms of announcing them to registrars.

In connection with any premium domain names program, FRS will set pricing for premium domain names, as well as renewal terms, before offering these domain names for registration. However, in connection with this class of domain names, there may be additional requirements that would legally bind these registrants in connection with the registration and use of these domain names. These terms will be known by this class of domain name registrants prior
to the creation of any legal obligation between the parties.

Similar gTLD applications: (1)

gTLDFull Legal NameDetail
.insurancefTLD Registry Services LLCView